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Local Companies Fined For Failure To Submit Income Tax Returns

​In the months of September and October 2022, three (3) local companies were ordered to settle fines at the Magistrate’s Court for failing to comply with Section 52(1) of Income Tax Act (Section 35), which is failing to submit Income Tax Returns for the relevant Financial Years:

  • ​Ar-Barakah Sdn Bhd - fined BND4,000 for failing to submit Income Tax Returns for the Financial Years ended 31 December 20​17, 2018, 2019 and 2020; 
  • Savers International Sdn Bhd – fined BND4,000 for failing to submit Income Tax Returns for the Financial Years ended 31 December 2016, 2017, 2018, 2019 and 2020; and 
  • GEIO Sdn Bhd - fined BND2,000 for failing to submit Income Tax Returns for the Financial Years ended 31 December 2019 and 2020. 

Revenue Division, Ministry of Finance and Economy would like to remind that companies registered under the Companies Act, Chapter 39 are required to submit their Income Tax Returns latest by 30th June of the relevant Year of Assessment. If companies are found guilty for failing to submit income Tax Returns, along with settling the fines imposed by the Courts, they are still required to submit their outstanding Income Tax Returns and pay outstanding Tax amount with penalties which is imposed at maximum 17% of the outstanding tax. 


Revenue Division 

Ministry of Finance and Economy 

Negara Brunei Darussalam


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