Denmark and SAF-T - 2025
This announcement contains information about the legal change Lov om bogføring (Bookkeeping Act), which was published in Denmark on May 24, 2022. An executive order to register standard systems with the Danish Business Authority was published in February 2023. It becomes effective on January 1, 2024. An executive order containing requirements for non-registered systems was published in March 2024. It becomes effective on January 1, 2025.
Digital bookkeeping, a new system that comes into force on 1 July 2024, offers a flexible transition period for companies subject to accounting obligations. The requirements include a form of Danish SAF-T, based on the OECD model. Enterprises can still use a non-registered system in 2024 and onwards, but they must always be compliant with the regulations of the Bookkeeping Act and provide documentation that their solution meets the requirements of a non-registered system upon request at all times. This transition period allows you to adapt to the new system at your own pace, ensuring a smooth and efficient transition.
How KGT can provide support?
- KGT has developed for Denmark an SAP add-on, and KGT can demo the features, including risk management tools or
- KGT's support is particularly beneficial when a web-based provider is selected. These providers often lack standard E2E solutions, leading to the need for costly consultancy work. However, KGT has developed extraction logic that ensures complete tax data is provided to the vendor's cloud portal environment. This not only saves costs but also enhances data security. Additionally, KGT offers optional functionalities within SAP itself, allowing for data analysis checks before submission, further reducing the risk of non-compliance or
- KGT gets operational for its client's SAP Document Reporting and Compliance (DRC) or
- KGT developed a 'tax engine and cockpit' in the cloud that can be connected to your ERP system, regardless of whether you run SAP.
