How long do VAT records need to be kept?
Business
owners should keep their records and books of accounts for at least 5 years after the fiscal year in which they operate ends. The business owner, shareholders, or partners should confirm that the books of accounts are kept in accordance with the requirements of the FTA.
Capital assets
such as machinery and furniture, must keep records and books of accounts for at least 10 years after the end of the tax period to which they belong.
Real estate
records should be kept for at least 15 years after the end of the tax period in question.