Last updated: 18 May 2012
Taxation
Brunei has no personal income tax, no sales tax, payroll, manufacturing or export tax. Sole proprietorship and partnership businesses are not subject to income tax and approved foreign investors are not required to pay company tax for up to eight years.
Companies are subject to tax on the following types of income:
- Gains of profits from any trade, business or vocation
- Dividends received from companies not previously assessed for tax in Brunei
- Interest and discounts
- Rents, royalties, premiums and any other profits arising from properties
However, there is no capital gains tax where the Collector of Income Tax can establish that the gains form part of the normal trading activities – they then become taxable as revenue gains.
Top Business Risks
OECD Guidelines for Multinational Enterprises
Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government. For more information, go to the AusNCP website.
APEC Business Travel Card Scheme
Managed by the Department of Immigration, the APEC Business Travel Card Scheme was developed to make travelling within the 21 APEC member countries much simpler and more efficient.