Value Added Tax Act (Cap. 406), article 48

48. (1) Every taxable person estab lished in Malta shall keep full and proper records of all transact ions carried out in the cours e or furtherance of his economic activity. (2) Every person who is liable to tax on any transaction or who identifies himself as a person registered under this Act for th e purpose of any transaction shall keep full and proper records o f any such transaction. (3) Every taxable person and ev ery non-taxable legal person shall keep full and proper records of all intra-community acquisitions made by him. (4) The records referred to in sub -articles (1), (2) and (3) sha ll be kept and stored in such manne r, contain such details and be supported by such information, documents and accounts as set ou t in the Eleventh Schedule and suc h records, information, documen ts and accounts shall be retained for a period of at least six yea rs from the end of the year to which they relate, or such other period or periods as the Minister may, i n special cases, by regulations VALUE ADDED TAX [CAP. 406. 37 prescribe: Provided that, where a tax return is furnished after its due date or, in the case where a per son makes a correction in terms of article 28(1), the six year period provided for in this sub-art icle shall start to run from the date on which a tax return is furni shed or the date on which the Commissioner receives a request for the correction. (5) The Commissioner may, at any time within the period specified in sub-article (4), request any person to produce, or may remove from any person, including a third party, the records, documents, accounts and electronic data required to be kept by him in virtue of this article a nd to make copies thereof: Provided that, if there is evide nce that after being requested by the Commissioner by means of a notice in writing, that such person failed to produce without any reasonable excuse any records, documents, accounts and electronic data within thirty days from the date of service of such notice, such person shall not be allowed to produce such records, documents, accounts and electronic data at a later stage after the issue of the provisi onal assessment or assessments or before the Tribunal or in any Cour t of law: Provided further that when re liance is placed on any other person to perform any task, the fact of that reliance or any de lay or inaccuracy on the part of the pe rson relied upon shall not cons titute a reasonable excuse for the purposes of this sub-article. Inclusion of tax in the price for supplies. Amended by: X. 2003.26. Substituted by: III.2026.61.