In the case of archiving unnecessary documents for a period longer than necessary by law, we increase the cost of premises, document management, cleaning, etc. Otherwise, if the legal deadline for archiving is not met, the tax office could impose a fine and the taxpayer would be exposed to the risk that they will not bear the burden of proof in the context of a possible tax audit or other similar procedure.
Below, we have prepared a table with an overview of individual documents and deadlines for their storage according to applicable laws for you.
The basic period for the safekeeping of tax documents (i.e. documents needed to prove the correctness of the content of tax claims, such as tax returns or statements) is based on the period for assessment of tax, which is 3 years. However, this period may be extended to a maximum of 10 years. See below for details on how this period may be extended.
Furthermore, if the taxpayer has a registered office or establishment in the Czech Republic, he is obliged to notify the tax administrator in advance of the place of storage of tax documents if this place is not in here.
Another point that tax subjects address in the issue of archiving, is the form in which they will archive the documents. The law allows the retention of documents in printed, electronic and combined form.
There is a certain "fun" phenomenon associated with the printed form of storage, which we must not forget, and that is, that certain types of receipts begin to fade very soon. If the receipts were the basis for verification, they would fail as evidence. Therefore, we recommend scanning these receipts and keep such scanned copies with the original.
With the development of technology, it is quite obvious that the form of electronic archiving is increasingly used. However, even this form brings with it certain rules. The tax subject must guarantee the following:
Valid documents are those that are signed with an electronic signature and secured with a qualified time stamp. The validity of such a stamp is limited to 5 years, thus before the expiration of the period, the document needs to be so-called re-stamped.
Business corporations must also pay increased attention to the documents listed in Annex 1 to the Act on Archiving and Records Management. These are for example founding documents, financial statements, annual reports, etc., which must be first assessed by the state archives, and only after their consent can be destroyed.
If, despite the above, you are questioning whether you can destroy the document, or you are interested in managing the archive, do not hesitate to contact us.
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