San Marino (SM)

Jurisdiction Overview

IDQuestionAnswer
188 *Is there an obligation to keep accounting data? Yes
 Data Date: 2018

Notes

 
In San Marino, all entities and arrangements are required to maintain adequate accounting records, including the underlying documentation for at least five years. (GF 2013: 48-53). However, in 2013, the Global Forum reported the existence of cases where accounting information was not available (ibid.). More recently in 2018, the Global Forum mentioned that "the specific nature and result of the sanctions imposed could not be ascertained, rendering it difficult to fully assess the effectiveness of application of dissuasive sanctions/enforcement easures to ensure availability of accounting information in respect of all entities and arrangements at all times."(GF 2018: 55).

Sources

GF 2013: 48-54; GF 2018: 51-54