Centre for Tax Policy and Administration Tax guidance series Tax Administration Guidance – Record Keeping Record Keeping Guidance

The purpose of this note is to set out guidance that will encourage appropriate standards for record keeping by businesses offering services or products via the Internet. The guidance is equally applicable to transaction-based taxes (GST/VAT) and direct taxes that make use of aggregated transaction information. It is aimed specifically at record keeping requirements for e-commerce although its principles apply equally to all computerised record keeping. Caveat Each revenue authority faces a varied environment within which they administer their taxation system. Jurisdictions differ in respect of their policy and legislative environment and their administrative practices and culture. As such, a standard approach to tax administration may be neither practical nor desirable in a particular instance. The documents forming the OECD Tax guidance series need to be interpreted with this in mind. Care should always be taken when considering a Country's practices to fully appreciate the complex factors that have shaped a particular approach.