Brunei Darussalam

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There are two parallel systems of law operating in Brunei Darussalam: statutory laws, which regulate mercantile activities and disputes between persons, and sharia law. Statutory laws are generally referred to as the common law system and are based upon English codified laws. These courts are also known generally as Civil Courts and have...

 

As an economy that is dependent on its energy sector, the ongoing global crisis, which has seen oil prices drop significantly, has had a major impact on Brunei Darussalam’s economy. The Sultanate’s dependency on this sector has resulted in the government taking serious steps to look at economic diversification.

 

For year of assessment 2016, no changes have been made to tax or capital allowance rates. However, in a recent notice issued by the revenue division of the Ministry of Finance (MoF) dated April 19, 2016, effective from year of assessment 2016 onward, pursuant to Section 133B and 133C of the Companies Act, Chapter 39 (Amendment) (No.2) Order,...

 

How can new and “off the beaten track” destinations in ASEAN countries be further promoted?

 

With Brunei Darussalam officials busy exploring new avenues to diversify the Sultanate’s economy away from petrochemicals, attention is being directed toward previously underdeveloped sectors for economic expansion. As demonstrated by the elevation of tourism to ministerial status under the Ministry of Primary Resources and Tourism (MPRT) in...

 

Tourism operators in the Sultanate have experienced an eventful few years. A government reshuffle in late 2015 seemed aimed at increasing the focus on the tourism sector, lending hope to many private sector operators that the government would begin supporting growth and expansion of the industry in earnest.

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