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Frequently Asked Questions on VAT

Last updated on 06 April, 2018


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How long should I maintain my tax records?

VAT taxpayers must maintain relevant records for a minimum of 6 years after each tax period, in case of audit.

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

In addition, you should maintain records for 5 years from the date of purchase, resulting in a total of 11-15 years.

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