Under the self-assessment system for
individual tax, you do not need to submit the relevant receipts or
invoices to the tax authorities (IRB) for those relief expenses spent or
incurred, but instead just keep those documents to yourself in case you
may be selected by IRB for random tax audit or when you need tax
clearance from IRB for previous years of assessment.
How long you need to keep those receipts or
invoices for tax purposes?
Tax rules require you to keep for 7 years.
The calculation of the 7 year period begins from the end of the year in
which the Income Tax Return Form is filed. Effectively, you need to keep
it for 9 years. How to calculate to 9 years? You spent/incurred relief
expense in Year 1, submit the Income Tax Return Form by 30 April in Year
2, and then keep the receipts pursuant to tax rules for 7 years. Total
number of years is 1+1+7 = 9 years.
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