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Question: What action will the IRBM take if I do not keep my business records?
Personal Income Tax (Including Business Owners)
Answer: If you do not keep your business records, under section 119A of the ITA 1967, you may be sued in court and if convicted, you could be fined not less than RM300 and not less than RM10,000 or be jailed for a year or two, both.
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