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14.1. Books and Records

Every person carrying on a trade, profession or business in Ireland is required to keep sufficient records of their income and expenditure to enable income and deductible allowances to be readily ascertained for correct tax return and payment, and for review by the Irish tax authorities when requested. Books and records that must be kept include the following:

Books of account, including:

  • Day to day records of monies received and expended
  • Record of assets and liabilities
  • Records of all goods purchased and sold, and services sold where applicable

Supporting documentation, including:

  • Invoices
  • Bank statements
  • Check stubs
  • Receipts
  • Etc.

Annual accounts, including:

  • Profit & loss account
  • Balance sheet
  • Cash flow statement
  • Notes to financial statements
  • Director's report

All records must be kept on a continuous and consistent basis for a period of six years from the year a relevant return is made unless the Irish tax authorities advise otherwise. They must be written in English or Irish and can be kept in paper, electronic, or other form as long as they can be made readily available for review by the tax authorities upon request. The currency of the books and records must be the euro (EUR).