Bandar Seri Begawan: From February to March 2025, thirteen local companies were ordered to pay fines at the Magistrate's Court for failing to submit Income Tax Statements.
According to Radio Television Brunei, Mecatronic Technology Sdn Bhd and Wehaya Engineering Sdn Bhd faced the highest fines of $6,000.00 each. Razuna Sdn Bhd and Sumon Sdn Bhd were fined $5,000.00 each, while Cahaya Bina Insan Sdn Bhd incurred a penalty of $4,000.00. Zhongjing Engineering Sdn Bhd and Fair Price Jaya Sdn Bhd were fined $3,000.00 each, with Bright Ventures Global (B) Sdn Bhd receiving a $2,000.00 fine.
The Revenue Division, Ministry of Finance and Economy, reminds companies registered under the Companies Act, Chapter 39, that they are required to submit their Income Tax Statements by the 30th of June for the relevant assessment year as mandated under Section 52(1) of the Income Tax Act, Chapter 35. Companies such as Affection Sdn Bhd, Kim Liang Construction Sdn Bhd, Syarikat Pengiran Haji Yusoff Bin Pengiran Haji Ahmad Sdn Bhd, Md Zafor Sdn Bhd, and Moon Min Sdn Bhd were fined $1,000.00 each.
If found guilty, the companies are also required to submit Income Tax Statements and pay the outstanding Income Tax along with a penalty, which can be as much as 17 per cent of the total tax in arrears, if any.