NetSuite Romania SAF-T declaration developed by BTS

NetSuite Romania SAF-T declaration developed by BTS

NetSuite Romania SAF-T Declaration is becoming obligatory for the companies in Romania since 2022. This is part of the plans for digitalization and standardization of the accounting and tax information of the Romania companies.

Initially, in 2022, only the large tax payers will be obliged to submit the SAF-T. In the following years, all categories of tax payers in Romania will need to report to tax authorities through the SAF-T declaration.

NetSuite Romania SAF-T is a tax audit file. It is based on an international standards and is used for electronic exchange of accounting data from organizations to national tax authorities.

Generating the SAF-T for Romania from Oracle NetSuite is now possible with the tool developed by BTS.

The solution compiles two components – functional and technical side.

Functional side of the implementation of the Oracle NetSuite SAF-T for Romania includes the initial mapping between data sets. Through this, with our help, you will align NetSuite’s database to the SAF-T data sets requirements. You can continue transact as usual.

The technical side of the SAF-T tax audit file represents the file generator. It is a solution embeded into Oracle NetSuite. It uses the data base directly to produce the SAF-T file. There are no extracts and conversion of the data outside of NetSuite. All of this happens into Oracle NetSuite.

Should you need to report monthly or quarterly, if you need the annual SAF-T report or you are requested to present a SAF-T report ‘on demand’ by tax authorities – you will be able to produce it and extract it ready for submission directly out of Oracle NetSuite.

If you have a subsidiary in Romania and are using Oracle NetSuite…

If you are obliged to report for SAF-T to the state this year or next year…

Contact BTS for more details for the SAF-T tax audit file developed by us for Oracle NetSuite.