Three types of retention periods
In Belgium, there are three main types of document retention periods:
- Fiscal retention period: the time during which the tax authorities can request documents during a tax audit.
- Accounting retention period: how long you must keep your accounts and supporting documents according to accounting legislation.
- Legal retention period: linked to the time limit for enforcing a claim in court, for example in the case of non-payment.
Fiscal retention period: minimum 7 years
According to Belgian VAT legislation (Article 60 of the VAT Code), you must keep all documentation needed for a VAT audit for at least 7 years, starting from January 1 of the year following the financial year.
This applies to:
- Outgoing and incoming invoices
- Proof of payment
- Credit notes
- Accounting documents
- Deductible expenses and investments
For property-related invoices with VAT, the retention period is even 15 years. This is due to the VAT revision system for immovable property: the tax authorities can check for up to 15 years whether the VAT deduction was correct, for example when purchasing or renovating commercial real estate.
Accounting retention period: also 7 years
Accounting legislation (Law of 17 July 1975) requires companies to keep their accounts and related supporting documents for at least 7 years, starting from January 1 of the year following the financial year.
Examples:
- Journals, inventories, bank statements
- Contracts, purchase orders
- Purchase and sales invoices
Legal retention period: at least 10 years
Aside from fiscal and accounting rules, it is also legally wise to keep documents long enough.
Especially for unpaid invoices, the statute of limitations plays a key role: this is the period during which you can still enforce your rights in court. The time limit depends on the type of claim:
- Commercial claims between businesses (B2B): general limitation period of 10 years.
- Claims against consumers (B2C): shorter period of 1 year.
In certain sectors such as hospitality, transport, and professional training, the limitation period is reduced to just 6 months. In these cases, it is crucial to follow up on invoices quickly, especially if they are unpaid.
Here you will find more information about prescription periods:
Overview of prescription periods
In what form should you keep documents?
The law allows documents to be stored digitally, provided they are:
- Authentic and unaltered
- Readable throughout the entire retention period
- Easily accessible or printable upon request
A solid digital archive (e.g. cloud storage, accounting software) is therefore perfectly legal and often more practical than paper folders.
What happens if you destroy documents too early?
Destroying documents prematurely can have serious consequences:
- During a tax audit, you may face penalties or lose tax benefits.
- In a legal dispute, you will be in a weaker position without supporting evidence.
- Your rights may be limited in case of a payment or performance dispute.
In short: without an invoice, you have no proof of your claim.
Prepare yourself against the risk of non-payment
Good archiving is not only a legal obligation but also your best protection against non-payment or disputes.
If you want to be able to enforce your rights in case of disputes or unpaid debts, keep all invoices and supporting documents for at least 10 years, even if you are only legally required to keep them for 7 years in some cases.
If you notice that a client has not paid and you have kept all the necessary invoices and evidence, you can act quickly and in full legal compliance.
Unpaid is here to help you!