In the month of April 2021, three local companies were ordered to settle fines after
their representatives pleaded guilty at the Magistrate’s Court for failing to comply
with Section 52(1) of Income Tax Act (Section 35).
Star Trading & Printing Sdn Bhd was fined a sum of BND 4,000 for having failed to
file Income Tax Returns for the Financial Years ending on 31st December 2013,
2014, 2015, 2016 and 2017.
Meanwhile, Jimeco Sdn Bhd and Intrepid Management Services Sdn Bhd were each
fined a sum of BND 5,000 for having failed to file Income Tax Returns for the
Financial Years ending on 31st December 2014, 2015, 2016, 2017 and 2018.
Revenue Division, Ministry of Finance and Economy would like to remind
companies registered under the Companies Act, Chapter 39 to submit their Income
Tax Returns by 30th June of the relevant Year of Assessment. Failure to submit is
an offence under the Income Tax Act, Chapter 35, which, upon conviction, is liable
to a fine of BND 10,000 and in default of payment to imprisonment for 12 months.
