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MoF establishes Income Tax Board of Review

THE Ministry of Finance (MoF) has announced yesterday that His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam has consented for the establishment of Income Tax Board of Review.

 

 The establishment aims to facilitate the administration and operation of taxation in Brunei Darussalam.

 

The Income Tax Board of Review introduces a new process of hearing, examining and settlement of objection cases from companies against the Collector of Income Tax’s assessment.

 

It will create a more transparent and fair system of administration of corporate tax as objection cases will be reviewed by an independent body.

 

Companies may present their appeal by writing to the Secretary of the Income Tax Board of Review, at Income Tax Board of Review Office at level 4 of the Ministry of Finance building in Jalan Commonwealth Drive.

 

A fee of $200 is chargeable for every appeal. For more information on the process of appeal can be found in the Ministry website at www.mof.gov.bn

 

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