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RECORD KEEPING (BUSINESS) ORDER, 2015

The Ministry of Finance is pleased to announce that His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam has consented for the introduction of the Record Keeping (Business) Order, 2015. The aim of this Order is to encourage businesses to practice good record keeping practices whilst providing a better internal control in order to monitor business development.

 This Order requires any person who runs a business, (which also includes every form of trade, commerce, craftsmanship, calling, profession, vocation and any activity carried on for the purposes of gain) to keep and maintain records of every transaction carried out in respect of the business.

These records should be retain for a period of at least 5 years from the date of transaction. “Records” would include books of account recording receipts, payments, income, expenditure, invoices, vouchers, receipts and such other documents to verify the entries in any books of account.

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