Keeping Proper Records

You should keep proper records and accounts so that the income earned and expenses claimed can be readily determined.

You are required to keep your records for 5 years .

Examples of the records are Forms IR8A, business expense receipts, payslips, CPF statements, etc.

Example

 YABasis periodKeep records up toCompulsory duration for
keeping proper records
20131 Jan 2012 to 31 Dec 201231 Dec 20175 years