In Germany, taxpayers may feel burdened by the lengthy retention periods for financial documents. Former Finance Minister Christian Lindner reduced this period from ten to eight years, aiming to alleviate bureaucratic pressures. However, his successor, Lars Klingbeil, plans to revert to the original ten-year requirement for companies, self-employed individuals, and landlords. While some documents only require six years, the new rules mean taxpayers must maintain originals or compliant digital copies, facing audits if unable to provide necessary documentation.
In response to concerns about financial fraud, former Finance Minister Christian Lindner reduced the retention period for accounting documents from ten to eight years.
Lars Klingbeil, the successor to Lindner, proposes reversing these reforms, reinstating a ten-year retention period for documents required by companies and self-employed individuals.
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