Excise Tax Act

Marginal note:Books and records

• 98 (1) Every person who

  • (a) is required, by or pursuant to this Act, to pay or collect taxes or other sums or to affix or cancel stamps, or

  • (b) makes an application under any of sections 68 to 70,

  shall keep records and books of account in English or French at that person’s place of business in Canada in such form and containing such information as will enable the amount of taxes or other sums that should have been paid or collected, the amount of stamps that should have been affixed or cancelled or the amount, if any, of any drawback, payment or deduction that has been made or that may be made to or by that person, to be determined.

• Marginal note:Keeping of records and books of account

  (2) Every person required by subsection (1) to keep records and books of account shall retain those records and books of account and every account and voucher necessary to verify the information contained therein until the expiration of six years from the end of the calendar year in respect of which those records and books of account are kept or until written permission for their prior disposal is given by the Minister.

• Marginal note:Electronic records

  (2.01) Every person required by this section to keep records who does so electronically shall retain them in an electronically readable format for the retention period set out in subsection (2).

• Marginal note:Exemption

  (2.02) The Minister may, on such terms and conditions as are acceptable to the Minister, exempt a person or a class of persons from the requirement in subsection (2.01).

• Marginal note:Idem

  (2.1) Notwithstanding subsection (2), where a person required by subsection (1) to keep records and books of account serves a notice of objection under section 81.15 or 81.17 or is a party to an appeal under this Part, he shall retain those records and books of account and every account and voucher necessary to verify the information therein until the objection or appeal has been finally disposed of by appeal or otherwise.

• Marginal note:Inspection

  (3) Every person required by subsection (1) to keep records and books of account shall, at all reasonable times, make the records and books of account and every account and voucher necessary to verify the information therein available to officers of the Agency and other persons thereunto authorized by the Minister and give them every facility necessary to inspect the records, books, accounts and vouchers.