The law “concerning various provisions” of 27 December 2005 inserts one the one hand a change concerning the storage period of invoices and on the other hand a change concerning the storage conditions for invoices.
The storage period shall reduce from 10 to 7 years (article 60§1, first indent, VAT code). As a consequence of this measure the storage period becomes equal to the maximum limitation term in VAT law.
Moreover, as from 1 January 2006 it will be possible to store paper purchase invoices in a digital format on condition that the authenticity and the integrity of the content of the invoices will be safeguarded. Since the paper invoices will not need to be stored if the conditions are met, companies can make important savings and administrative simplifications by use of this digital form of storage.

This entry was posted on Wednesday, January 18th, 2006 at 9:00 am and is filed under Belgium, VAT & Duties. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.