In audits, the difference between a smooth review and a painful one is simple: documentation quality. If your files are incomplete, you’re forced into
explanations, estimates, and corrective adjustments.
How long should you keep records?
VAT record retention is commonly referenced as at least 5 years, and businesses should align with the Tax Procedures Law for audit-related timelines.
Corporate Tax record retention is often discussed as 7 years following the end of the relevant tax period.
What to keep (minimum)
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Contracts and amendments
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Tax invoices + credit notes
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Delivery evidence (emails, PODs, export docs)
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Bank statements + reconciliations
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Payroll + EOSB working papers
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Fixed asset register
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Board/shareholder approvals for major decisions
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Related-party agreements and schedules
Best practice file naming (simple and powerful)
Use:
YYYY-MM | Supplier/Customer | Invoice# | Amount | VAT
Example:
2026-01 | ABC Trading | INV-1044 | 12,500 | VAT5
