Accounting and Registration Obligations
Skip information indexHeeping of books
Article 30 of the Commercial Code establishes that business owners will keep the books, correspondence, documentation and supporting documents relating to their business, duly organized, for six years, starting from the last entry made in the books, except as established by general provisions. or special.
This period does not coincide with the statute of limitations (4 years) of the Administration's right to determine the tax debt through timely liquidation, so it may happen that the Administration's right to regularize a tax is prescribed, but the businessman still must keep the accounting books and other documentation related to them.
On the other hand, it must be taken into account that verifications and investigations may be extended to prescribed years when the facts have fiscal effects in non-prescribed periods (art. 115 LGT ) and that, in the case of the compensation or deduction of certain tax credits, the Administration will have 10 years to verify the origin of the compensation or deduction originated (art. 66 bis.2 LGT).
The businessperson's cessation of activity during the fiscal year does not exempt him/her from having to keep books and accounting records and, if the person has died, the duty will be the responsibility of his/her heirs. In the event of a company's dissolution, the liquidators will be obliged to comply with the above.