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Insolvency legal framework strengthened in Brunei

THE Ministry of Finance and Economy yesterday announced that His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam consented for the introduction of the Insolvency (Winding Up) Rules, 2018 and Insolvency (Insolvency Practitioners) Rules, 2018 which are aimed at further strengthening the insolvency legal framework in Brunei Darussalam. The new rules took effect from September 19.

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Amendment ensures effective enforcement for striking off companies from the Register

THE Ministry of Finance and Economy in a press release has announced that His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam has consented for the introduction of the Companies Act (Amendment) Order, 2018 and Companies (Striking Off) Rules, 2018 which are aimed at further strengthening the Companies Act (Chapter 39) in Brunei Darussalam with effect from September 13, 2018.

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Talks enliven 1440 Hijrah celebration

THE Ministry of Finance and Economy (MoFE) held a ceremony to commemorate the new Islamic year of 1440 Hijrah organised by the Royal Customs and Excise Department at the Theatre Hall of the MoFE building, Commonwealth Drive, Jalan Kebangsaan yesterday.

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ARTICLES

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Vendor Clinic Remains Open to Address Issue of Late Payments

The Vendor Clinic introduced by the Treasury Department, Ministry of Finance since 25th April 2016 is still operational and open to vendors who wish to find out about the payment process or making inquiries and complaints about delayed payments for the supply and service provision to the Government.

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Ministry Of Finance Income Tax Board of Review

In February 2017, the Income Tax Board of Review (ITBOR) was established under the Income Tax Act, Chapter 35. The ITBOR has been formed specifically to serve the interest of Companies that are subjected to corporate tax under the Companies Act with the aim to facilitate the administration and operation of taxation in Brunei Darussalam.

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World Class Refinery and Integrated Petrochemical Complex at PMB Begins to Take Shape

BRUNEI Darussalam's conducive and pro-business environment continue to become one of the main factors that attracts foreign investors to consider setting up base in the country.

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