Notwithstanding the provisions of the Tax Procedures Law, a Taxable Person shall maintain all records and documents for a period of (7) seven years following the end of the Tax Period to which they relate that:

1. Support the information to be provided in a Tax Return or in any other document to be filed with the Authority.

2. Enable the Taxable Person’s Taxable Income to be readily ascertained by the Authority.

Notwithstanding the provisions of the Tax Procedures Law, an Exempt Person shall maintain all records that enable the Exempt Person’s status to be readily ascertained by the Authority for a period of (7) seven years following the end of the Tax Period to which they relate.