France Outlines New Requirements for Accounting Software

May 23, 2017

Charles Riordan

Author

Sovos

This blog was last updated on June 27, 2021

Under a new measure that enters into force on January 1, 2018, VAT taxpayers will be required to use only “secured and certified ” software accounting systems when recording customer payments. To be “secured and certified,” accounting systems must meet specified requirements of inalterability, security, retention, and archival prowess. The French tax administration is authorized to conduct announced audits of software, and failure to use certified software will be punishable by fines of up to 7,500 Euros.

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Charles Riordan

Charles Riordan is a member of the Regulatory Analysis team at Sovos specializing in international taxation, with a focus on Value Added Tax systems in the European Union. Charles received his J.D. from Boston College Law School in 2013 and is an active member of the Massachusetts Bar.