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Evolution of Record-Keeping: Amendments to Section 82

Updated: Nov 18

Section 82 is read as follows:-

82(1) [Records and receipts]

Notwithstanding section 82A and subject to this section, every person carrying on a business:-

  1. shall keep and retain in safe custody sufficient records for a period of seven years from the end of the year to which any income from that business relates to enable that income from that business for each year of assessment or the adjusted loss from that business for the basis period for any year of assessment to be readily ascertained by the Director General or an authorized officer; and

  2. if the gross takings from the business for the basis year for any year of assessment exceeded one hundred and fifty thousand ringgit from the sale of goods or one hundred thousand ringgit from the performance of services, shall issue a printed receipt serially numbered for every sum received in that year of assessment in respect of goods sold or services performed in the course of or in connection with the business and shall retain a duplicate of every receipt so issued.

82(1A) [Where a return is not furnished]

Where a person carrying on a business has not furnished a return under section 77(1), 77A(1) or (2) for a year of assessment, that person shall keep and retain the records 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.

82(2) [Where a machine is used for recording sales]

Where in the carrying on of a business, a machine is used for recording sales, the issue of receipts pursuant to subsection (1)(b) may be dispensed with except where the Director General is not satisfied—

  1. that the machine automatically records all sales made; or

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

82(3) [Director General may specify form of records, receipts]

The Director General may specify by statutory order in respect of any class or description of business (or by notice under his hand in respect of the business of any particular person)—

  1. the form of records to be kept under paragraph (1)(a) and the manner in which they shall be kept and retained; and

  2. the form of receipts to be issued and duplicate receipts to be retained under paragraph (1)(b) and the manner in which they shall be issued or retained.

82(4) [Director General may waive provisions]

The Director General may waive all or any of the provisions of subsection (1) in respect of any business or records or any class or description of business or records.

82(5) [Director General may require audited accounts]

The Director General, if he is of the opinion that any accounts or records produced by any person to the Director General for the purpose of ascertaining the income of a person are insufficient or inadequate for that purpose, may by notice under his hand require that person to produce, in respect of any period or periods specified in the notice and within a time so specified (that time not being less than thirty days from the service of the notice), financial statements made in accordance with the requirements of the Companies Act 2016.

82(6) [Time requirement for record entry]

Any person who under subsection (1) is required to keep records shall cause appropriate entries to be made in those records in respect of transactions within sixty days of each transaction.

82(7) [Format of record keeping]

Any person who is required by this section to keep records and—

  1. does so electronically shall retain them in an electronically readable form and shall keep the records in such a manner as to enable the records to be readily accessible and convertible into writing; or

  2. has originally kept records in a manual form and subsequently converts those records into an electronic form shall retain those records prior to the conversion in their original form.

82(8) [Location of records]

All records that relate to any business in Malaysia shall be kept and retained in Malaysia.

82(9) [Interpretation of “records”]

For the purposes of this section, "records" include:-

  1. books of account recording receipts and payments or income and expenditure;

  2. 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; and

  3. any other records as may be specified by the Director General under subsection (3).

Finance (No. 2) Bill 2023 proposes Amendment of section 82 Section 82 of the principal Act is amended by inserting after subsection (2) the following subsections:

“(2A) Where a person issues an electronic invoice in respect of goods sold or services performed under section 82c, the issuance of receipts pursuant to paragraph (1)(b) may be dispensed with.

(2B) Notwithstanding paragraph (1)(b) and subsection (2A), where a person is required to submit to the Director General a consolidated transaction invoice as provided under subsection 82c(7), that person shall issue a printed receipt for every sum received in that year of assessment in respect of goods sold or services performed.”.


The proposed amendments to Section 82 bring significant changes to record-keeping requirements for businesses in Malaysia.

The amendments introduce provisions related to issuing electronic invoices and dispensing printed receipts in certain cases.

The amendments in Section 82 aim to streamline record-keeping practices for businesses.

With the introduction of electronic and consolidated e-invoices, businesses can adapt to modern practices while maintaining compliance with regulatory requirements.


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