Company fined for failure to file income tax returns
BANDAR SERI BEGAWAN
A COMPANY was imposed a $2,500 fine after its director pleaded guilty to failing to submit their income tax return particulars.
The court document stated that Defendant Razam Enterprise and Company Sdn Bhd had failed to comply with notices issued by the collector of Income Tax for the defendant to make a return on the income the defendant accrued in, derived from or received in Brunei for the years ended on December 31 in 2009, 2010, 2011, 2012 and 2013.
The company was given 30 days from January 31 to comply with the notices.
However, as of March 1, the defendant has since failed, without any reasonable excuse to furnish a return of income and particulars form to the Revenue Section, Ministry of Finance.
The form is required for the purpose of ascertaining the income tax of the company as required for all companies pursuant to Section 52 of the Income Tax Act.
Failure to comply with section 52 of the Income Tax Act, Chapter 35, is an offence under section 78(1) of the Income Tax Act, Chapter 35.
It carries a $10,000 fine and 12 months in jail for in default of payment.
The Brunei Times