Storage terms of accounting and financial documents that became obligatory for individuals-entrepreneurs are changed from February 10

It should be informed that Order of the Ministry of Justice of Ukraine № 40/5 as of 04.01.2024 entered into force on February 10, 2024, which amended List of standard documents created during activities of state and local self-government bodies, other institutions, enterprises and organizations with indicating storage terms of documents (hereinafter – List). This List determines storage terms of relevant documents.

Taking into account the specified changes, storage terms of documents specified in this List and regulating entrepreneurial activities of legal entities are applied by individuals-entrepreneurs, unless otherwise established by the law or does not follow from essence of relationship (whereas previously it was voluntary for individuals-entrepreneurs). Herewith, storage term for documents and information related to calculation and payment of taxes and levies for individuals-entrepreneurs is established according to the Tax Code of Ukraine (hereinafter – Code) and is 3 years (Paragraph 1.4 of the List).

Paragraph 2.10 of the List specifies that storage terms of primary documents, accounting registers, financial reporting, other documents, information related to calculation and payment of taxes and levies, contributions, other obligatory payments are calculated from the date of submission of tax or other reporting for preparation of which the specified documents and/or information are used, and in case of non-submission – from deadline for submission of such reporting provided by the Code.

In addition, storage terms of certain specific documents related to financial and economic activities have also changed. In particular, such term was increased from 1 or 3 years to 5. At the same time, the following caveats were established for such documents:

- documents related to the subject of tax audit, audit (inspection) of the state financial control body and/or administrative or judicial appeal of decision made based on its results are kept for not less than the established minimum period and within one year after expiration of period prescribed by the law for judicial appeal of such decision, and in case of such appeal – within one year from the date of entry into legal force of the court decision, which ended proceedings, and in case of appeal of such court decision – within three months from the date of entry into legal force of the final court decision, further appeal of which is not possible;

- documents for which the minimum storage term has expired, relating to reporting periods for which tax audits, audit (inspection) can no longer be carried out, are subject to destruction (except for those that can be used to document process of compensation for material damage caused as a result of armed aggression of russian federation and temporary occupation);

- documents and information subject to requirements of Articles 39 and 39² of the Tax Code are kept for at least 7 years.