German delays cut VAT invoice retention time; approves tax prosecution changes
- May 14, 2013 | Richard Asquith
The German Federal Council has delayed plans to reduce the time companies are obliged to hold German VAT invoices for.
The plan, approved by the German lower parliament, had been to reduce the record retention time from ten years to eight years. This covered German VAT invoices and other accounting records. It was proposed as an amendment to the 2013 Tax Act.
The proposed Bill will not pass for review to the mediation body.