How long to keep accounting records
We are moving to a new system. How many years of old records must we keep?
The situation
Corporate Tax records must be kept for 7 years after the end of the tax period. VAT records have their own retention rules, so keeping everything for 7 years is safest.
The law
- Art 56, Federal Decree-Law 47 of 2022: 7-year retention
What it means for you
Export ledgers, invoices and reports in readable formats before switching off the old system. Example: moving systems in 2026, keep 2019 to 2025 data accessible. Missing records can bring a AED 10,000 penalty per violation under the VAT and excise schedule.
What to do
- Export full ledgers and documents.
- Store in a readable format.
- Index by year.
- Keep for at least 7 years.
We can do this for youBookkeeping, accounting standards and audited financial statements: what the FTA, free zones and banks require: AED 800