PERIOD OF SAVING OF ACCOUNTING DOCUMENTS

In accordance with tax legislation accounting documents should be saved during 3 years (transfer pricing documents – 2 555 days). Tax authorities have not a right to review accounting documents older than 3 years, because period for tax checking can not be more than 3 years. So if tax payer had been saving accounting documents three years and then these documents were destroyed (even with violation of the destruction order) there will not be negative tax consequences for a tax payer.
Nevertheless period of saving of accounting documents is also prescribed in The list of typical documents created during the activities of state agencies and local governments, other agencies, businesses and organizations, specifying the terms of document storage. But in case of violation the terms of this document Ukrainian legislation prescribes only small penalty – from 136 to 255 UAH (≈5-10 USD) (Art. 1642 of Code of Ukraine on Administrative Offences).