55. Records
(1) In addition to the records required under Part A of Chapter 4 of the Tax Administration Act, every vendor must, in particular, keep the following records and documents:
[Words preceding paragraph (a) substituted by section 271 of Act 271 of Act 28 of 2011 effective on 1 October 2012]
(a) a record of all goods and services supplied by or to the vendor showing the goods and services, the rate of tax applicable to the supply and the suppliers or their agents, in sufficient detail to enable the goods and services, the rate of tax, the suppliers or the agents to be readily identified by the Commissioner, and all invoices, tax invoices, credit notes, debit notes, bank statements, deposit slips, stock lists and paid cheques relating thereto: Provided that a vendor’s records do not have to show the rate of tax where the vendor has been authorised by the Commissioner to calculate the tax payable by him in accordance with a method prescribed by regulation, as contemplated in section 16(1);
[Paragraph (a) substituted by section 38 of Act 97 of 1993 and section 102 of Act 30 of 1998]
(aA) a record of all importations of goods and documents relating thereto as contemplated in section 16(2)(d);
[Paragraph (aA) inserted by section 35 of Act 136 of 1992]
(aB) any documentary proof required to be obtained and retained in accordance with section 16(2)(f) or (g);
[Paragraph (aB) inserted by section 37 of Act 36 of 2007 and substituted by section 29 of Act 16 of 2016 effective on 19 January 2017]
(b) the charts and codes of account, the accounting instruction manuals and the system and programme documentation which describe the accounting system used in each tax period in the supply of goods and services;
(c) any list required to be prepared in accordance with section 15 (9); and
(d) any documentary proof required to be obtained and retained in accordance with section 11(3).
[Subsection (1) amended by section 38 of Act 97 of 1993]
(2) ……….
[Subsection (2) substituted by section 38 of Act 97 of 1993 and deleted by section 271 of Act 28 of 2011 effective on 1 October 2012]
(3) ……….
[Subsection (3) substituted by section 38 of Act 97 of 1993, amended by section 17 of Act 10 of 2006 and deleted by section 271 of Act 28 of 2011 effective on 1 October 2012]
(4) ……….
[Subsection (4) substituted by section 38 of Act 97 of 1993, amended by section 18 of Act 9 of 2007 and deleted by section 271 of Act 28 of 2011 effective on 1 October 2012]
56. ……….
[Section 56 repealed by section 23 of Act 46 of 1996]
57. ………..
[Section 57 substituted by section 24 of Act 46 of 1996, amended by section 47 of Act 27 of 1997, section 172 of Act 60 of 2001 and section 187 of Act 45 of 2003 and repealed by section 271 of Act 28 of 2011 effective on 1 October 2012]