Boekhoudplicht

The obligation to maintain proper accounts arises under Dutch corporate law, in particular Article 2:10 of the Civil Code and the related tax provisions. Legal entities such as BVs and NVs must organise their records so that, at any given time, they present a true and fair view of the financial position and performance of the undertaking.

This obligation is material because failure to comply may result in directors’ liability, particularly in the event of insolvency, and may give rise to difficulties during tax audits or in meeting the requirements for the preparation of annual accounts. Proper accounting records are also essential to ensure transparency vis-à-vis shareholders, creditors and regulatory authorities.

In practice, this requires that invoices, bank statements and other financial documents be retained systematically and remain accessible throughout the statutory retention period of seven years.