Singapore Government
Link to Homepage
Home | About Us | Browse | Advanced Search | Results | My Preferences | FAQ | Help | PLUS
 
Contents  

Long Title

Part I PRELIMINARY

Part II ADMINISTRATION

Part III IMPOSITION OF INCOME TAX

Part IV EXEMPTION FROM INCOME TAX

Part V DEDUCTIONS AGAINST INCOME

Part VI CAPITAL ALLOWANCES

Part VII ASCERTAINMENT OF CERTAIN INCOME

Part VIII ASCERTAINMENT OF STATUTORY INCOME

Part IX ASCERTAINMENT OF ASSESSABLE INCOME

Part X ASCERTAINMENT OF CHARGEABLE INCOME AND PERSONAL RELIEFS

Part XI RATES OF TAX

Part XII DEDUCTION OF TAX AT SOURCE

Part XIII ALLOWANCES FOR TAX CHARGED

Part XIV RELIEF AGAINST DOUBLE TAXATION

Part XV PERSONS CHARGEABLE

Husband and wife

Trustees, agents and curators

Part XVI RETURNS

Part XVII ASSESSMENTS AND OBJECTIONS

Part XVIII APPEALS

Part XIX COLLECTION, RECOVERY AND REPAYMENT OF TAX

Part XX OFFENCES AND PENALTIES

Part XXI MISCELLANEOUS

FIRST SCHEDULE Institution, Authority, Person or Fund Exempted

SECOND SCHEDULE rates of tax

THIRD SCHEDULE

FOURTH SCHEDULE Name of Bond, Securities, Stock or Fund

FIFTH SCHEDULE Child Relief

SIXTH SCHEDULE Number of Years of Working Life of Asset

Legislative History

Comparative Table

 
Slider
Left Corner
Print   Link to Viewed VersionLink to In-Force Version
 
On 23/11/2017, you requested the version in force on 07/09/2000 incorporating all amendments published on or before 01/01/2008.
Slider
Keeping of books of account and giving of receipts
67.
—(1)  Subject to subsection (2), every person carrying on or exercising any trade, business, profession or vocation —
(a)
shall keep and retain in safe custody sufficient records for a period of 7 years from the year of assessment to which any income relates to enable his income and allowable deductions under this Act to be readily ascertained by the Comptroller or any officer authorised in that behalf by the Comptroller; and
(b)
shall, if the gross receipts from such trade, business, profession or vocation in the preceding calendar year exceeded $18,000 from the sale of goods, or $12,000 from the performance of services, 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 trade, business, profession or vocation, and shall retain a duplicate of every such receipt.
(1A)  Where a machine is used for recording sales a receipt may be dispensed with if the Comptroller is satisfied that —
(i)
such machine automatically records all sales made; and
(ii)
the total of all sales made in each day is transferred at the end of the day to a record of sales.
[11/94]
(2)  The Comptroller may by notice in writing to any person carrying on or exercising any trade, business, profession or vocation, or by a notice in the Gazette in respect of any class or description of any such person, prescribe —
(a)
the form of the records to be kept under subsection (1)(a), and the manner in which such records shall be kept and retained; and
(b)
the form of the receipts to be issued and the duplicates to be retained under subsection (1)(b), and the manner in which such receipts shall be issued and such duplicates shall be retained,
and every such person shall be bound to comply with such notice.
(3)  The Comptroller may waive all or any of the provisions of subsection (1) in respect of any person or records or any class or description of persons or records.
(4)  In this section, “records” includes —
(a)
books of account recording receipts or payments or income or expenditure;
(b)
invoices, vouchers, receipts, and such other documents as in the opinion of the Comptroller are necessary to verify the entries in any books of account; and
(c)
any records relating to any trade, business, profession or vocation.
History for Provision '67 Keeping of books of account and giving of receipts'.
Left Arrow
Right Arrow
pr67-.
30/04/1996
Formal Consolidation
30 April 1996
1996 RevEd
 

30/12/1999
Formal Consolidation
30 December 1999
1999 RevEd
 

01/01/2008
Formal Consolidation
01 January 2008
2008 RevEd
 
Compare versionsDiff

17/01/2008
Informal Consolidation
17 January 2008
Amended
Act 34 of 2008

17/01/2008
Informal Consolidation
17 January 2008
Amended
Act 34 of 2008

16/02/2008
Informal Consolidation
16 February 2008
Amended
Act 34 of 2008

27/02/2008
Informal Consolidation
27 February 2008
Amended
Act 35 of 2007

01/04/2008
Informal Consolidation
01 April 2008
Amended
Act 29 of 2012

02/04/2008
Informal Consolidation
02 April 2008
Amended
Act 10 of 2006

02/04/2008
Informal Consolidation
02 April 2008
Amended
Act 10 of 2006

01/10/2008
Informal Consolidation
31 December 2009
Amended
Act 27 of 2009

31/10/2008
Informal Consolidation
31 October 2008
Amended
Act 22 of 2011

16/12/2008
Informal Consolidation
16 December 2008
Amended
Act 34 of 2008

16/12/2008
Informal Consolidation
16 December 2008
Amended
Act 34 of 2008

23/02/2010
Informal Consolidation
23 February 2010
Amended
Act 22 of 2011

01/03/2010
Informal Consolidation
26 November 2010
Amended
Act 29 of 2010

01/04/2010
Informal Consolidation
01 April 2010
Amended
Act 29 of 2012

21/05/2010
Informal Consolidation
26 November 2010
Amended
Act 29 of 2010

07/07/2010
Informal Consolidation
07 July 2010
Amended
Act 22 of 2011

22/10/2010
Informal Consolidation
22 October 2010
Amended
Act 25 of 2010

22/11/2010
Informal Consolidation
26 November 2010
Amended
Act 29 of 2010

01/01/2011
Informal Consolidation
01 January 2011
Amended
Act 29 of 2012

19/02/2011
Informal Consolidation
19 February 2011
Amended
Act 22 of 2011

01/03/2011
Informal Consolidation
26 November 2010
Amended
Act 29 of 2010

01/06/2011
Informal Consolidation
01 June 2011
Amended
Act 29 of 2012

01/09/2011
Informal Consolidation
01 September 2011
Amended
Act 22 of 2011

20/12/2011
Informal Consolidation
20 December 2011
Amended
Act 22 of 2011

01/01/2012
Informal Consolidation
01 January 2012
Amended
Act 22 of 2011

31/03/2014
Formal Consolidation
31 March 2014
2014 RevEd
 
Compare versionsDiff

27/11/2014
Informal Consolidation
27 November 2014
Amended
Act 34 of 2016

01/01/2015
Informal Consolidation
27 November 2014
Amended
Act 37 of 2014