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As a business owner, you are legally required to keep your records for a fixed period. For most documents the period is seven years, and for certain data even ten. Do you know exactly what needs to be kept in your situation and from what moment the period starts? This article gives you a clear overview.
The legal basis of the retention obligation
The retention obligation for business owners is laid down in Article 52 of the General Tax Act (Algemene wet inzake rijksbelastingen, AWR). It applies to the self-employed (zzp’ers), SMEs and BVs alike: anyone who is active as a business owner must keep their books and records so that the Dutch Tax Administration can check tax returns and, if necessary, issue additional assessments. If you fail to meet this obligation, the burden of proof is reversed: the tax authorities will then estimate your tax liability themselves, and it is up to you to prove that the estimate is incorrect.
Seven years for your core records
The standard retention period is seven years. It applies to all of your core records, including:
- The general ledger and the accounts receivable and accounts payable records
- Purchase and sales invoices (both received and sent)
- Bank statements and cash records
- Payroll records and payslips
- Stock records and interim reconciliation calculations
- VAT returns, assessments and correspondence with the Dutch Tax Administration
- Contracts, agreements and business diaries
Digital communication is also covered: business emails and messages sent via other channels can form part of your records and must be available during an audit.
Ten years for immovable property and special schemes
A longer period applies to part of your records. Data relating to immovable property, such as business premises or a renovation, must be kept for ten years. This follows from the adjustment period for the deduction of input VAT. The same applies to businesses that supply electronic services, radio and television broadcasting services or telecommunications services, and to businesses that use the EU OSS scheme (Union scheme or Import scheme).
When does the retention period actually start?
A common mistake is to assume that the seven years start when a document is drawn up. That is not correct. The retention period only starts once the data has lost its current relevance. Take a lease contract with a term of four years: during those four years the contract is current and part of your ongoing records. Only after that period has ended does the seven-year retention period begin. In total, you therefore keep such a contract for eleven years. Bear this in mind for long-term contracts, loans or rental agreements.
Keeping records digitally or on paper
You may keep your records digitally or on paper, but the format must match the way in which you received or sent the document. An invoice you receive by email must be kept digitally; printing it out and filing it in a folder is not sufficient. Conversely, you may scan paper documents and store them digitally, provided the copy is complete and accurate and any features of authenticity are retained. This process is called conversion. Also make sure that the Dutch Tax Administration actually has access to the programs and files used during an audit; the systems you need to read the data are also covered by the retention obligation.
Book a no-obligation meeting and find out what we can do for you.
Book a meetingPractical tips for a well-organised filing structure:
- Ideally, use accounting software that saves automatically and keeps a clear audit trail
- Make regular backups in the cloud, so that fire or theft does not cause problems
- Download your bank statements every year; with most banks you can only go back two years in online banking
- Keep your timesheets and mileage records carefully as well, especially if you claim the entrepreneur’s allowance (ondernemersaftrek) or drive a company car
- Remember that business diaries, WhatsApp messages and other digital communication may also be covered by the retention obligation
The obligation continues after you cease trading
Are you stopping your business or dissolving your BV? Then the retention obligation does not lapse automatically. You remain responsible for keeping all relevant documents for the remainder of the period, calculated from the moment the financial year was closed. The Dutch Tax Administration can also carry out a final audit after you have ceased trading. In the event of bankruptcy, responsibility passes to the trustee (curator), but the complete records must still be handed over.
Shorter periods are sometimes possible
In consultation with the Dutch Tax Administration, you can agree a shorter retention period for certain data. However, this never applies to core data such as the general ledger and invoices. Moreover, such agreements only apply to the Dutch Tax Administration; other government bodies may still insist on the statutory period of seven years. Always record any agreements in writing and keep that confirmation safe.
Well-organised record keeping, for example through Administration Eindhoven , is therefore more than a legal formality: it is the basis for a smooth tax return, clear business operations and peace of mind when an audit comes knocking.
Why Belastingadviseur Eindhoven
At Belastingadviseur Eindhoven, we help business owners in the region get their records in order and keep them that way. We think along with you about how to set up your filing structure, so that you always meet the tax retention obligation without unnecessary stress. Do you have questions about exactly what you need to keep, or would you like to know whether your current approach is watertight? Feel free to get in contact with us, with no obligation, and we will go through it together.
Frequently asked questions
How long do I need to keep my records as a business owner?
For most business documents there is a statutory retention period of seven years. For data relating to immovable property, such as business premises, the period is ten years. The period only starts once the data in question has lost its current relevance, not necessarily on the date of the document itself.
When exactly does the seven-year retention period start?
The retention period starts as soon as data is no longer current. For an ongoing contract, the period therefore only starts after that contract has ended. A four-year lease contract must then be kept for another seven years: eleven years in total. For your core records, the retention period usually starts after the end of the financial year to which the data relates.
Can I keep my records entirely in digital form?
Yes, you can, provided the digital version is complete, accurate and verifiable, and the Dutch Tax Administration (Belastingdienst) can access it during an audit. An invoice you receive digitally must be kept digitally; printing it out is not enough. You may scan paper documents (conversion), but strict requirements for completeness and reliability still apply. Ideally, record this in accounting software with a proper audit trail.
Does the retention obligation still apply after I close my business?
Yes. Even after you have ceased trading, you remain obliged to keep your records for the remainder of the retention period. The Dutch Tax Administration can still carry out audits after your business has stopped. So make sure the documents remain accessible until the full retention period has expired.
What are the consequences if I do not comply with the retention obligation?
If you cannot meet the retention obligation during an audit, the burden of proof is reversed. The Dutch Tax Administration will then estimate how much tax you owe itself, usually to your disadvantage. You also risk a penalty and may no longer be able to substantiate deductible items. In serious cases there may even be criminal consequences. Well-kept records, retained in good time, prevent all of these problems.
We are happy to think along with you. For advice tailored to your situation we would gladly sit down with you. No rights can be derived from the content of this page and it may contain inaccuracies.
