WHAT IS THE INCOME TAX BOARD OF REVIEW?
The Income Tax Board of Review (ITBOR) is an independent board set up under the Ministry of Finance and Economy.
The ITBOR comprises of the chairman and other qualified members independently appointed by the Minister of Finance and Economy to consider the Income Tax Assessment appeals.
WHAT CAN BE REVIEWED BY ITBOR?
The taxpayers can only have their assessment reviewed by ITBOR after their objection to the assessments made by the Collector of Income Tax (CIT) is rejected. A notice of refusal to amend from the CIT would be issued ("Notice of Refusal to Amend"). After receiving the Notice of Refusal to Amend, you have the option to :-
a. Accept the CIT’s decision on the item or items under objection. If so, the assessment will be regarded as final and conclusive; or
b. File a Notice of Petition for Review to the Board within 30 days from the date of the Notice of Refusal to Amend.
WHAT ARE THE REQUIRED DOCUMENTS FOR REVIEW?
- Notice of Petition for Review
Within 30 days of the Notice of Refusal to Amend, file a written Notice of Petition for Review in duplicate hardcopy along with copies of the Notice of Refusal to Amend.
- Petition for Review
Within 30 days fo the filing of Notice of Petition for Review, file a written Petition for Review in quadruplicate hardcopy containing the grounds of petition for review. You may attach relevant documents to support your grounds for review.
Hardcopies of the documents are to be sent to the address below:
Income Tax Board of Review
Level 4, Ministry of Finance and Economy Building,
Jalan Kebangsaan BB3910
Softcopies of the documents may be emailed to:
PROCEDURE AT ITBOR HEARING
On receipt of the Notice of Petition for Review, the Secretary to the ITBOR will immediately forward one (1) copy thereof to the CIT. Thereafter, upon receipt of the Petition of Review, the Secretary will immediately forward one (1) copy thereof to the CIT.
A Pre-Trial Conference (PTC) will be scheduled for the Petitioner (i.e. taxpayer) and the CIT. The PTC may be conducted from time to time to regulate the progress of each review.
Once the Petitioner and the CIT decide to proceed to hearing, the hearing date and place will be scheduled. A 14 days' notice will be given to both the Petitioner and the CIT on the time and place for the hearing of the review.
The hearing must be attended by the Petitioner and the CIT, either in person or by an advocate and solicitor or accountant.
GROUNDS FOR REVIEW
It is the Petitioner’s responsibility to prove to ITBOR that the CIT’s tax assessment is excessive or the amount of any unabsorbed losses, allowances or donations that may be carried forward ought to be of a different amount.
Therefore, it is important to state all issues, attach all relevant documents and state your supporting arguments for review in the Petition for Review.
WHAT IS THE FILING FEE FOR APPEALS?
Non-refundable filing fee of BND$200 for each year of assessment when filing the Petition of Review by the Petitioner.
WITHDRAWAL OF APPEALS
The Petitioner can withdraw the review at any time by writing in to ITBOR.
If the CIT decides to concede the matter in dispute, they will write to both the ITBOR and the Petitioner.
APPEAL TO THE HIGH COURT
The Petitioner or the CIT may appeal to the High Court against the ITBOR’s decision only if the issue involves a question of a law or a question of mixed law and fact and the disputed tax payable (excluding the amount of any costs awarded) exceeds $3,000.
APPEAL TO THE COURT OF APPEAL
The Petitioner or the CIT may appeal to the Court of Appeal against the High Court’s decision only if the issue involves a question of a law or a question of mixed law and fact and the disputed tax payable (excluding the amount of any costs awarded) exceeds $5,000.