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NEWS

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Competition Law dialogue with Wet Market Vendors

​A fair competitive market will provide businesses, regardless of scale, with more opportunities to grow. Awareness and compliance of the Competition Order by businesses are instrumental in achieving a fair market which can benefit businesses in the long run and enhance consumer welfare. 

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The Senior Economics Officials’ Meeting – Dialogue Partners’ Consultations (SEOM - DP Consultations) 14 – 15 June 2021

​14 - 15 June 2021

The SEOM – Dialogue Partners’ Consultations (SEOM – DP Consultations) were officially held on 14 June 2021 to 15 June 2021 via video conferencing. The SEOM – DP Consultations were chaired by Yang Mulia Dr. Hajah May Fa’ezah binti Haji Ahmad Ariffin, Permanent Secretary (Economy) at the Ministry of Finance and Economy, Brunei Darussalam. 

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Three Local Companies Fined for Failure to Submit Income Tax Returns

​3 Jun 2021

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). 

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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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