Germany cuts the retention period for accounting vouchers from ten years to eight
Germany's Fourth Bureaucracy Relief Act (BEG IV), passed by the Bundestag in September 2024, shortens the retention period for accounting vouchers (Buchungsbelege) under commercial and tax law from ten years to eight. Books, inventories, annual financial statements and management reports must still be kept for ten years.
The Bundestag passed the Fourth Act to Relieve Citizens, Business and Administration of Bureaucracy (Viertes Bürokratieentlastungsgesetz, BEG IV) in September 2024. The Government estimated it would save business about €944 million a year.
What changed
- Amendments to the Commercial Code (HGB), the Fiscal Code (AO) and the VAT Act shorten the retention period for accounting vouchers (Buchungsbelege) from ten to eight years.
- Records such as books of account, inventories, annual financial statements and management reports must still be kept for ten years.
Who is affected
Every German company and the finance and company secretarial teams that manage record retention.
What to do
Update retention schedules for accounting vouchers, but keep the ten-year period for books and financial statements. Check the effective date and transitional rules in the law before destroying any records.