In this course · 2 of 6
Course 2
Set up your store's books
6 lessons · 6 min
- 1What Bookkeeping Records Must an Online Seller Keep in Malaysia?
- 2How Long Must an Online Seller Keep Business Records in Malaysia?
- 3Shopee or Lazada Payout Lower Than Sales: Which Is My Income for Tax?
- 4How to Record Shopee and Lazada Fees, Shipping and Ads in Your Books
- 5How to Record Refunds and Returns for an Online Store in Malaysia
- 6How to Calculate Cost of Goods Sold for an Online Shop in Malaysia
The short answer
Seven years from the end of the year to which the business income relates, under section 82 of the Income Tax Act 1967 (Inland Revenue Board of Malaysia, LHDN). If no return was filed for a year, the seven years run from the end of the year in which the return is eventually filed.
Section 82 of the Income Tax Act 1967 sets the rule for businesses.
Standard period. Records must be kept for seven years from the end of the year to which the income from the business relates.
If a return was not filed. The period runs for seven years after the end of the year in which the return is eventually furnished. The Act is the reference for this rule.
What counts. Books of account, invoices, vouchers, receipts and other documents needed to support the entries. Records may be kept electronically, and they must be kept in Malaysia.
Why this matters for online sellers
- Platform dashboards, chat records and statements can disappear when a store is closed or an account is suspended, so export them regularly.
- LHDN can audit past years within the time limits in the Act, and missing records can lead to an assessment based on LHDN's own estimate.
- Section 82 lets the Director General waive or add to the record-keeping duty in particular cases.
Companies also have record duties under the Companies Act 2016.
Legal basis and sources
The law
- Income Tax Act 1967, s.82
General information for business owners, not legal, tax or professional advice. Rules change, so check the sources or ask a licensed professional before you act.
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