The Revenue Division, Ministry of Finance and Economy reminded that companies registered under the Companies Act, Chapter 39 are required to submit their Income Tare Income Tax Returns. 16 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, Chapter 35 that is failing to submit Income Tax Returns for the relevant Year of Assessment.
R.G.S Industries Sendirian Berhad; Bio Vital City Sendirian Berhad; Greenbuilders Sendirian Berhad; STOB Sendirian Berhad and Panca Holdings Sendirian Berhad were fined 5 thousand dollars respectively for failing to submit income tax returns for Financial Years ending on 31 December of 2016, 2017, 2018, 2019 and 2020. Genowise Golden Cultural Development Sendirian Berhad and YGC Construction Sendirian Berhadwere fined $4,000 respectively for failing to submit income tax returns for Financial Years ending on 31 December of 2017, 2018, 2019 and 2020.
JKM Corporation Sendirian Berhad and Top Print Intelligent Sendirian Berhad were fined $3,000 respectively for failing to submit income tax returns for Financial Years ending on 31 December of 2018, 2019 and 2020. SNSS Sendirian Berhad, Higher Cafe Sendirian Berhad, Fabritek Sendirian Berhad, Irsanxing Brunei Sendirian Berhad, Jaman Jaya Sendirian Berhad and G.G Aranda Sendirian Berhad were fined 2 thousand dollars respectively for failing to submit income tax returns for Financial Years ending on 31 December of 2019 and 2020. Meanwhile, Borneo Hill Sendirian Berhad was fined $1,000 for failing to submit income tax returns for Financial Years ending on 31 December 2020.
Source: Radio Television Brunei