Integration with SAF-T
SAF-T (Standard Audit File for Tax) is a standard defined by the Organisation for Economic Co-operation and Development (OECD) which aims to simplify tax compliance and tax audit requirements as they relate to information required for tax purposes from business and accounting systems. This standard has seen an increase in adoption within European countries as a means to file tax returns electronically.
How the integration works
Countries that have implemented SAF-T as a means to file tax returns electronically require all invoicing systems to provide this functionality. As a result any company operating on any of these countries should already have an easy way to start using Invisible Collector.
The information companies provide through SAF-T for tax purposes is the same Invisible Collector needs to work:
- The customers that have undue payments;
- The list of invoices including the ones that have missing payments;
- The list of payments which allows Invisible Collector to detect the invoices that have been settled.