Seksyen 25
Akta ibu dipinda dengan memasukkan selepas seksyen 34
seksyen yang berikut:
“Duty to keep records 34a. (1) Subject to this section, every chargeable person carrying on petroleum operation shall keep and retain in safe custody relevant records for a period of seven years from the
Undang-Undang Malaysia 22
Akta 702
end of the year to which any expenditure or income from that operation relates, to enable the Director General or an authorized officer to ascertain—
(a)
the expenditure for the exploration period from that operation; or
(b)
the income or the adjusted loss from that operation for the basis period for any year of assessment.
(2)
Where a chargeable person referred to in subsection (1)
has not furnished a return as required under this Act in relation to the exploration period or year of assessment, that chargeable person shall keep and retain the records referred to in subsection (1) for a period of seven years after the end of the year in which the return is furnished.
(3)
Every chargeable person shall, for each exploration period or basis period for the year of assessment, make up accounts of his expenditure or profits or losses arising from his petroleum operations and those accounts which shall be audited by a professional accountant, together with a report made by that accountant shall contain, in so far as they are relevant, the matters set out in subsections 174(1) and (2)
of the Companies Act 1965.
(4)
Any chargeable person who is required by this section to keep records and—
(a)
does so electronically shall retain them in an electronically legible form and shall keep the records in such manner as to enable the records to be readily accessible and convertible into writing;
or
(b)
has originally kept records manually and subsequently converts those records into electronic form shall retain those records prior to the conversion in their original form.
Kewangan 23
(5)
All records that relate to any petroleum operation in
Malaysia shall be kept and retained in Malaysia.
(6)
For the purposes of this section—
“exploration period” has the same meaning assigned to it under section 30a; and
“records” includes—
(a)
books of account recording receipts and payments or income and expenditure; and
(b)
invoices, vouchers, receipts and such other documents as in the opinion of the Director General are necessary to verify the entries in any books of account.”.