State Tax Service and banks discussed introduction of the SAF-T UA

Specialists of the State Tax Service of Ukraine held a video conference with the banking sector representatives regarding introduction of the standard audit file SAF-T UA. The main question is how to make process of creating and submitting file more convenient for banks.

Discussion was attended by specialists from the State Tax Service, Independent Association of Banks of Ukraine and representatives of financial institutions. Participants focused on challenges that banks face in the process of preparing the SAF-T UA file and ways to address them.

State Tax Service is open to cooperation and is ready to help banks in adapting information from their operational systems to the SAF-T UA requirements. Tax authorities also assured that they will support financial institutions in the process of transition to the new standard by providing methodological recommendations.

There is a special banner “SAF-T UA” on web portal of the State Tax Service, where is it possible to find detailed instructions, explanations, and answers to current questions.

SAF-T UA is a step towards greater transparency of financial reporting and digitalization of accounting. Its introduction will help simplify data exchange between banks and controlling authorities.