127Persons with possible sales tax liability must keep records

#### 127 Persons with possible sales tax liability must keep records (1) A person who is the taxpayer for an assessable dealing, or the claimant for a credit, must: (a) keep records that record and explain all transactions and other acts engaged in by the person that are relevant to that assessable dealing or credit claim; (b) retain those records for at least 5 years after the completion of the acts or transactions to which they relate. (2) A person who is required by this section to keep records must keep the records: (a) in writing in the English language, or in such a form that they are readily accessible and can easily be converted into writing in the English language; and (b) so as to enable the person’s liability under the sales tax law to be readily ascertained. (3) The person is not required to retain the records if: (a) the Commissioner has notified the person that the person is not required to retain the records; or (b) the person is a company that has gone into liquidation and been finally dissolved. Penalty: $3,000.