S.L. 123.55 Art. 48Records and returns.

(1) Every employer and every company and partnership that provides any property or the use of any property, or makes any payment in cash or in kind to any employee or an officer shall keep proper and sufficient records to enable the determination of the extent to which such payment is, or is not, to be treated as a benefit provided by reason of an employment or office and the categorisation, valuation and tax treatment of any such benefit in terms of these rules, and shall deliver to the Commissioner such statements, information and returns as may be required for the said purposes on such date or dates as may be specified by the Commissioner or as may be prescribed.

(2) The records, statements, information and returns referred to in sub-rule (1) shall include:

(a) any records and statements expressly specified in any of the foregoing provisions of these rules;

(b) such other records, statements, information and returns as may be directed by the Commissioner from time to time or as may be prescribed.

(3) All records referred to in this rule and all supporting documents shall be produced or made available for inspection by the Commissioner whenever so requested by the Commissioner and shall be kept for a period of not less than 6 years.

(4) The provisions of this rule are without prejudice to any obligations imposed on any person to keep records or to furnish records, statements, information and returns in accordance with any provision of or prescribed under the Income Tax Acts.