Archiving electronic invoices: ten years in XML format

A new shape for the retention obligation

VAT payers will be required to retain electronic invoices for ten years from the end of the calendar year to which they relate. The difference from current practice lies less in the length of the period than in the format. What has to be archived is the structured XML file, meaning the same document that travelled through the network, not a printout or a PDF rendering of it.

The responsibility stays with the business

Some delivery service providers may offer invoice archiving as an additional service. Responsibility for meeting the statutory obligation nevertheless always remains with the business. When selecting a provider, we recommend verifying:

•      How long the provider retains the invoices

•      The terms of access to the archive and the options for exporting data

•      What happens to the archive when the contract ends

•      How the readability and integrity of the files are secured throughout the retention period

Questions worth asking today

•      Where the electronic invoices will be stored

•      Who is responsible for backing them up

•      How you will evidence their content during a tax audit

Is your company ready to archive electronic invoices in line with the new rules?

If you have questions about setting up archiving or choosing a provider, our tax team is here to help.