Keeping VAT records


This section outlines:

  • what sales records you keep
  • what purchase records you keep
  • how long to keep your records.

You need to keep full and true records of all Value-Added Tax (VAT)related business transactions. It may affect your liability to VAT and entitlement to reclaim VAT. Retain items such as:

  • business books and records
  • invoices
  • credit notes
  • debit notes
  • receipts
  • accounts
  • cash register tally rolls
  • vouchers
  • VAT information exchange system (VIES) records
  • Intrastat returns
  • stamped copies of single administrative documents (SADs)
  • and
  • bank statements.

To calculate your correct VAT liability or repayment, you need to keep, detailed and up to date records. If Revenue inspect your records, they must be able to verify the accuracy of each transaction.

Next: What purchase records do you keep?