(a) It shall be
the duty of every person subject to the tax imposed by this Chapter
to keep and preserve suitable records and such other books and accounts
as may be necessary to determine the amount of tax for which he is
liable under this Chapter. The books and records must contain, at
a minimum, such detail and summary information as may be required
by Regulation; or when records are maintained within an electronic
data processing (EDP) system, the requirements established by the
Arizona Department of Revenue for privilege tax filings will be accepted.
It shall be the duty of every person to keep and preserve such books
and records for a period equal to the applicable limitation period
for assessment of tax, and all such books and records shall be open
for inspection by the Tax Collector during any business day.
(b) The Tax Collector
may direct, by letter, a specific taxpayer to keep specific other
books, records, and documents. Such letter directive shall apply:
(1) only for
future reporting periods, and
(2) only by
express determination of the Tax Collector that such specific recordkeeping
is necessary due to the inability of the City to conduct an adequate
examination of the past activities of the taxpayer, which inability
resulted from inaccurate or inadequate books, records, or documentation
maintained by the taxpayer.
