Solution to read data that is archived in SAP to submit tax reporting
Tax data reporting differs based on local country tax requirements, and sometimes, it is essential to report data already archived. KGT has developed a solution that such archived data can be read, analyzed, and reported to the tax authorities. When data is analyzed, it is read sequentially, and elementary information such as item number, customer, and order date is displayed in the list form. It is possible to run an analysis for one or several archiving sessions.
Our extractor has an in-built functionality that gives the organization to choose archived data as part of SAF-T reporting. Our solution combines real-time data with archive data in a single SAF-T file, with minimal human intervention.
SAF-T, the Standard Audit File for Tax Purposes, is an international standard file for electronic transfer of accounting and tax data from businesses to tax authorities or external auditors that need to review this data. Many countries have determined their tax and accounting reporting regulations and require companies to report this information digitally to local tax authorities. Due to widely varying accounting systems, standardization is needed to identify and prevent tax fraud.