Which tax documents cannot be destroyed within 5 years: explanation
Since April 28, 2023, updated rules regarding the minimum retention periods for tax and accounting documents have been in effect in Ukraine. The relevant changes were introduced by Law No. 2970-IX, which implements the international standard for the automatic exchange of information on financial accounts.
The tax service reminded that the new requirements apply both to documents created after the law came into force and to documents whose retention period had not yet expired as of April 28, 2023. They also apply to enterprises and organizations that are in the process of liquidation or for which a liquidation decision was made after the law came into effect.
The Tax Code obliges taxpayers to keep records of income, expenses, and other indicators based on primary documents, accounting registers, financial statements, and other documents necessary for calculating and paying taxes.
Depending on the type of documents, different retention periods are established:
- 2555 days (over 7 years) — for documents and information necessary for tax control in the field of transfer pricing and certain international operations;
- 1825 days (5 years) — for primary documents, accounting registers, financial statements, and other documents related to the calculation and payment of taxes by most legal entities and certain single tax payers;
- 1095 days (3 years) — for other documents not subject to special requirements;
- 1095 days — for documents related to the implementation of other legislation monitored by tax authorities, including permit documents.
Tax authorities emphasize that failure to comply with the established document retention periods may cause problems during tax audits and when confirming the correctness of tax calculations. Therefore, businesses should review their archives and ensure that documents are stored in accordance with the updated legislative requirements.
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