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Frequently Asked Questions on VAT

Last updated on 17 August, 2018


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How long should I maintain VAT records?

Business owners should maintain their records and books of accounts for a period of at least 5 years from the end of the financial year to which they belong. The business owner, shareholders or partners should confirm that the books of accounts are being maintained as mandated by the FTA.

Records and books of accounts related to capital assets like machinery and furniture should be maintained for at least 10 years from the end of the tax period to which they belong.

Records related to real estate should be maintained for a period of at least 15 years from the end of the tax period to which they belong.

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