Tax
From The Report: Brunei Darussalam 2013
View in Online Reader

This chapter contains updates on the Brunei Darussalam tax system, offering need-to-know information for doing business in the Sultanate. It also contains a tax viewpoint from Pengiran Moksin, President, Brunei Darussalam Institute of Certified Public Accounts, and Partner, Deloitte.

Articles from this Chapter

Overview

The rules of the game: Tax updates that businesses need to know
OBG
plus

The current tax rates in Brunei Darussalam are expected to help grow the economy. Individuals do not to pay any personal income tax, and sole proprietorships and partnerships also continue not to be subject to any form of taxes, a move designed to encourage the growth of small and medium-sized enterprises and support economic diversification in the Sultanate. CORPORATE INCOME TAX: Under Section 8 of the Brunei Income Tax Act (BITA) the chargeable income of any person accruing in, derived from…

Viewpoint

Pengiran Moksin, President, Brunei Darussalam Institute of Certified Public Accounts, and Partner, Deloitte, on e-filing with STARS
OBG
plus

The collector of income tax (CIT) began to engage tax agents in late 2011 on their push for corporate income tax e-filing under the system for tax administration and revenue services (STARS). CIT’s work with tax agents and other stakeholders such as company directors and accountants involved with tax compliance, continued in 2012 to ensure the smooth implementation of STARS. In its leaflet “STARS Discovery Day”, the CIT states that the objective of introducing STARS is to enhance and streamline…