What is the Statutory Limitation Period?
Lexicon Entry: The 7-Year Rule for Record Keeping
Feb 17, 2026
4 min read
Arakan Statutory Team
The **Statutory Limitation Period** is the timeframe within which the FTA can perform an audit or issue a tax assessment. Under the Tax Procedures Law, this is generally **7 years**.
Warning: In cases of proven Tax Evasion, the limitation period may not apply, allowing for indefinite look-backs.