Malaysia legislation
Section 36
Section 36
Duty to keep records
(a)
all records of goods and services supplied by or to that taxable person including tax invoices, invoices, receipts, debit note, credit note and export declaration forms;
(b)
all records of importations of goods; and
(c)
all other records as the Director General may determine.
Act 762 BI Teks 1.indd 51 6/19/14 5:56:12 PM
Act 762
(2)
Any record kept under this section shall be—
(a)
preserved for a period of seven years from the latest date to which the record relates;
(b)
in the national or English language; and
(c)
kept in Malaysia, except as otherwise approved by the
Director General and subject to the conditions as he deems fit.
(3)
Where the record is in an electronically readable form, the record shall be kept in such manner as to enable the record to be readily accessible and convertible into writing.
(4)
Where the record is originally in a manual form and is subsequently converted into an electronic form, the record shall be retained in its original form prior to the conversion.
(5)
A copy of the record shall be admissible in evidence in any proceedings to the same extent as the record itself.
(6)
This section shall apply to any person, other than a taxable person, under subsection 13(3), section 58, paragraph 65(4)(b), and subsections 65(5) and 72(5).
(7)
Any person who contravenes this section commits an offence and shall, on conviction, be liable to a fine not exceeding fifty thousand ringgit or to imprisonment for a term not exceeding three years or to both.
Accounting basis