Every business owner has wondered how long they need to keep invoices. This is a responsibility for any company or business, as knowing the deadlines and regulations is vital to avoid penalties and problems. However, the answers are complex and vary due to the diversity of laws. In this article, we will tell you how long you must keep invoices according to each regulation, what happens if you do not have the one they ask for, and how electronic invoicing, with solutions such as easyap, can help you comply with the law and optimize your document management.
How long must invoices be kept according to Spanish law?
The retention of invoices in Spain is regulated by several laws. Each one has a different purpose and storage period. Therefore, below we present the different periods established by all current legislation.
1. Commercial Code: 6 years
Article 30 of the Commercial Code Article 30 of the Commercial Code stipulates that companies must keep their books, correspondence, documentation, and supporting documents for a minimum period of six years. This applies to all accounting records, including invoices issued and received. Thus, any business will be able to justify its operations during that time in an inspection.
2. Money Laundering Act: 10 years
For its part, Article 25 of Law 10/2010 on the prevention of money laundering and terrorist financing requires documentation to be kept for ten years. This law only applies to companies in the financial sector or those involved in transactions with a high risk of money laundering.
3. General Data Protection Regulation (GDPR)
The GDPR does not establish a minimum period for keeping invoices, but rather a maximum period. This means that data must be kept only as long as it is necessary for the purposes for which it was collected.
4. Occupational Risk Prevention Act: 5 years
According to Article 23 of the Occupational Risk Prevention Act, documents relating to occupational risk prevention, including invoices related to preventive activities, must be kept for five years.
5. General Tax Law: 4 or 10 years
Article Article 66 of the General Tax Law sets a period of four years for retaining invoices for tax purposes. However, Article 66.bis allows the Administration to initiate proceedings for tax bases pending compensation or deductions pending application for ten years. Therefore, in certain cases, invoices must be kept for longer.
6. Law on Infractions and Penalties in the Social Order: 3, 4, and 5 years
According to Article 4 of the Law on Infractions and Sanctions in the Social Order, the period varies between three, four, and five years, depending on the offense or the nature of the information. This law is fundamental in labor and social security matters.
7. Account Auditing Act: 5 years
Finally, Article 30 of the Audit Act establishes that audit documentation must be kept for a minimum period of five years. This includes invoices related to audits and other supporting documents necessary for the reports issued.
For all these reasons, and since the Commercial Code sets the period at six years, keep the documentation for at least six years (for tax purposes it will be four). The exception will be companies that have negative tax bases pending compensation or deductions pending application. In this case, the period will be ten years.
In any case, we have summarized all this information in this table:
| Law | Invoice retention period |
| Commercial Code | 6 years |
| Money Laundering Act | 10 years |
| GDPR | Maximum required |
| Occupational Risk Prevention | 5 years |
| General Tax Law | 4 years (possible extension to 10) |
| Violations and Social Sanctions | 3, 4, and 5 years old |
| Accounts Audit Act | 5 years |
What happens if I don't have the invoice they are asking for?
This information is so important because if you do not present an invoice when requested, you may face legal consequences and financial penalties. Depending on the nature of the request, these may include:
- Tax inspection. In the tax field, if the Tax Agency asks you for an invoice that you do not have, you could face administrative penalties and the denial of certain deductions or benefits.
- Accounting issues and auditors. The lack of invoices can also cause problems in audits. How? By compromising the quality of your financial information and affecting the transparency of your company.
- Legal risks. In the event of litigation, not having sufficient documentation could jeopardize the company's legal defense. That is, in conflicts and lawsuits with suppliers, customers, or employees.
To avoid these situations, it is best to have a good document storage and management system. document management system that offers you full availability of invoices in the shortest possible time.
The role of electronic invoicing in invoice storage: advantages and disadvantages
Specifically, electronic invoicing plays a very important role in invoice storage. In the current context, where regulations are rigorous and demanding, electronic solutions provide efficiency and security.
According to the Create and Grow Act, companies must ensure that electronic invoices are available to customers and suppliers. This, among other things, greatly facilitates regulatory compliance.
Likewise, apart from the legal requirement, online invoicing offers advantages such as:
- Accessibility and availability: Electronic invoicing facilitates access to information anytime, anywhere. This means that invoices are always available for potential inspections or audits.
- Reduction of errors and penalties: by automating filing and storage, the risk of losing your invoices is much lower. This makes it easier to meet deadlines and therefore minimizes the risk of fines.
- Information security: Solutions such as ours feature advanced security measures, such as data encryption. This ensures the integrity and confidentiality of stored information and complies with both the Commercial Code and the GDPR.
Is easyap an effective solution for storing your digital invoices?
At this point, we must highlight the features of easyap. A tailor-made solution to help you efficiently fulfill your obligations. With our technology, any financial director can optimize invoice management and ensure that they are available at all times and in the appropriate format.
Key features of easyap software
- Automation of the storage process. The software we offer allows you to automate the storage of your invoices. It also helps you to organize them correctly and, in turn, you will have them available when you need them and for the period required by law in your case.
- Comprehensive regulatory compliance. Our solution is designed to comply with all current legislation in Spain regarding invoice storage.
- Secure access in the cloud. Invoices stored in easyap are kept in a secure cloud environment.
As you may have noticed, the retention period for invoices is not as simple as it might seem. In fact, in Spain it ranges from six years under the Commercial Code to ten years in specific cases, or even the flexible periods under the GDPR. That is why good management and knowing the timeframes is so important.
Fortunately, electronic invoicing and solutions such as those we design at easyap offer you the perfect technology to meet these deadlines efficiently. The automation and digitization of the process facilitates the storage of all kinds of documents and, at the same time, gives you peace of mind and security. Contact us so that you are always prepared for any eventuality.
