Article 94 - Retention of Books and Records

The Taxpayer must retain books, records, documents, and information required by the nature of the Taxpayer’s activity to prepare FS, determine taxable income, and meet the requirements of Pillar Two. These include:

1. Balance sheet

2. Profit and loss accounts

3. Cash flow statements

4. Statement of equity

5. General Ledger

6. Fixed asset register

7. Payroll records

8. Liability records

9. Inventory

10. Transfer pricing documentation

11. Stock register

12. Supporting documents for entries in books, records, and Tax Returns, such as:

    1. Invoices, contracts, licenses, and correspondence;

    2. Documents showing the simplified calculation methods used by the Taxpayer under the Law and its ERs.

13. Any other books, records, or documents specified by the Tax Administration.

All records must be retained for a minimum of 10 years from the end of the Tax Period to which the records, documents, and information relates.