In this article we will explain the main types of documents that you must keep and the deadlines established by the different regulations.
Tax, labor and commercial regulations impose different retention periods for company documentation.
We need to empty the archive, there is no room left for anything. What can we throw away? The last 4 years? The last five? More? Should we keep all the invoices? Those for fixed assets too? All these questions are repeated every year, but they do not have a single, easy answer.
In the day-to-day running of a company, a large amount of documentation is generated that must be managed correctly, both for operational reasons and due to legal obligations.
The accumulation of documentation cabo verde email list in companies can become a problem if some cleaning is not done from time to time.
Below are some guidelines that companies should follow to establish time limits for retaining business documentation, taking into account the different applicable regulations.
Article 30 of the Commercial Code establishes that entrepreneurs must keep books, correspondence, documentation and supporting documents related to their business, in an orderly manner, for 6 years from the last entry in the books . Unless general or special provisions indicate otherwise.
Please note that not only paper documents are taken into account. All invoices sent or received by email are also considered documentation.
Among the documentation to be preserved, the following stand out for their importance:
Tax regulations: Conservation of general documentation with tax implications
Article 66 of the General Tax Law 58/2003 (LGT) establishes that the following rights will expire after 4 years :
The right of the Administration to determine the tax debt through the appropriate liquidation. In this case, the limitation period will begin to run from the day following the end of the regulatory period for submitting the corresponding declaration or self-assessment.
The right of the Administration to demand payment of settled and self-assessed tax debts . In this case, the limitation period will begin to run from the day following the day on which the voluntary payment period ends.
The right to request refunds arising from the regulations of each tax, refunds of undue income and reimbursement of the cost of guarantees . In this case, the limitation period will begin to count in the following ways:
From the day after the deadline for requesting the corresponding refund arising from the regulations of each tax ends.
