How long should you keep your administrative records?

March 13, 2022

How long should you keep your administrative records?

If you want to know how your business is doing, you usually look at your records. Administration provides a clear picture of this. This information can be useful for making decisions. It's also nice to know if your business is doing well. So, as an entrepreneur, it's handy to keep your records.

In addition, as a company or self-employed person, you are also legally obliged to keep your records. Through these kept records, the tax authorities can check the figures of your business for a reasonable period of time. This administration is used for various tax declerations.

The standard retention period for businesses and self-employed persons is 7 years. Administration of data on (rights to) real estate must be kept for 10 years. The 10-year retention period also applies if you use the one-stop shop system.

So, you must ensure that you keep your administration neatly, for 7 or 10 years.