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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.