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bruneilawsby aturio
In force2022 Revised Edition
Contents

5. Duty to keep and maintain records

(1)

Every person carrying on or exercising any business shall —

(a)

keep and maintain records of every transaction carried out in respect of the business; and

(b)

issue a printed receipt serially numbered for every sum received in respect of goods sold or services performed in the course of or in connection with such business and shall retain a duplicate of every such receipt.

Record Keeping (Business)

(2)

Such person shall retain the records for a period of at least 5 years from the date the transaction takes place on or after the commencement of this Act.

(3)

Where a machine is used for recording sales, a receipt may be dispensed with if —

(a)

such machine automatically records all sales made; and

(b)

the total of all sales made in each day is transferred at the end of the day to a record of sales.

(4)

Any person who without reasonable excuse fails to comply with subsection (1) is guilty of an offence.

(5)

In this section, “records” includes —

(a)

books of account recording receipts, payments, income and expenditure;

(b)

invoices, vouchers, receipts and such other documents as in the opinion of the Competent Authority are necessary to verify the entries in any books of account; and

(c)

any records relating to any business.

Report

Read on from s 6