Malaysia legislation
Section 22E
Section 22E
(2)
Where a person referred to in subsection (1) has not furnished a return as required under this Act for a year of assessment, that person shall keep and retain the documents referred to in subsection (1) that relate to that year of assessment for a period of seven years after the end of the year in which the return is furnished.
(3)
The Director General may waive all or any of the requirements under subsection (1) in respect of any profit.
(4)
Any person who is required by this section to keep documents and—
(a)
does so electronically, shall retain the document in an electronically readable form and shall keep the documents in such a manner as to enable the documents to be readily accessible and convertible into writing; or
(b)
has originally kept documents in a manual form and subsequently converts those documents into an electronic form, shall retain those documents prior to the conversion in their original form.
(5)
All documents that relate to any profit in Malaysia shall be kept and retained in Malaysia.
Laws of Malaysia ACT 445
44
(6)
For the purposes of this section, “documents” means—
(a)
statement of profits; and
(b)
invoices, vouchers, receipts and such other documents as are necessary to verify the particulars in a return.
Failure to issue electronic invoice
22EA. Any person who, without reasonable excuse, contravenes subsection 22DA(1), (6) or (7), shall be guilty of an offence and shall, on conviction, be liable to a fine of not less than two hundred ringgit and not exceeding twenty thousand ringgit or to imprisonment for a term not exceeding six months or to both.
Duty to provide information and furnish documents for ascertaining chargeable profit and tax payable
22EB. (1) Where a person has furnished to the Director General a return of profits in accordance with section 5 or 10, that person shall provide information and furnish documents as may be determined by the Director General for the purpose of ascertaining his chargeable profit and tax payable or net profit, as the case may be, on an electronic medium or by way of electronic transmission within thirty days after the due date for furnishing of the return of profits.
(2)
For the purposes of subsection (1), section 21C shall apply accordingly with any necessary modifications.
Prosecution