How long do I need to keep my administration?

Every entrepreneur is legally obliged to keep his administration for 7 years. ‘Administration’ includes the following matters:

• the general ledger
• debtor and creditor administration
• stock administration
• purchase and sales administration
• invoices
• contracts & agreements
• payroll administration.

Administration relating to immovable property must be legally retained for 10 years (for example, data about the business premises, such as agreements, appraisals, etc.). You must keep all data digitally; you may only keep data on paper if you have very small records that can be checked within a reasonable time.