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Frequently Asked Questions on VAT

Last updated on 06 April, 2018


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Should I maintain records for my capital assets?

Yes. For capital assets, businesses must maintain records for the following adjustment period:

  • Tangible and intangible assets - 6 years
  • Immovable assets like real estate - 10 years Apart from this, businesses should also maintain records for an additional 5 years from the date of purchase, resulting in a total of 11-15 years.
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