(Bandar Seri Begawan, 12th) — The Brunei Revenue Division has issued a statement announcing that, during the period from July to September this year, 30 local companies have been required to pay fines at the Magistrate Court for failing to comply with Section 52(1) of the Income Tax Act (Chapter 35), specifically for failing to submit their income tax returns for the relevant fiscal years on time.
The companies announced by the authorities are as follows: Sitikayah Sdn Bhd was fined BND 6,000 for failing to submit income tax returns for the years 2015, 2016, 2017, 2018, and 2019; Snapfeed Sdn Bhd, Tanzila Sdn Bhd, Sayem Sdn Bhd, and Cooper Macdonald Daud Sdn Bhd were each fined BND 4,000 for failing to submit returns for 2016, 2017, 2018, and 2019; Mey Jiang Hardwares Sdn Bhd, Nazmul Jaya Sdn Bhd, Confidence Sdn Bhd, and Shad Sdn Bhd were each fined BND 3,200, also for failing to submit returns for 2016, 2017, 2018, and 2019; Foysal Jaya Sdn Bhd, Alexa Sdn Bhd, and AS Faria Sumon Sdn Bhd were fined BND 3,000, for failing to submit returns for 2017, 2018, and 2019; Attacca Sdn Bhd was fined BND 3,000 for failing to submit returns for 2018 and 2019; Everwide Darulsalam Sdn Bhd, G K S Sdn Bhd, Sheam Sdn Bhd, Lamia Sdn Bhd, Asha Sdn Bhd, PS Supply Sdn Bhd, and Shafaifa binti Marwa Sdn Bhd were each fined BND 2,000 for failing to submit returns for 2018 and 2019; Procity Sdn Bhd, M.M.S.S.B Contractor Sdn Bhd, Malitha Sdn Bhd, S.A. Aryan Sdn Bhd, Amir Foysal Sdn Bhd, Maniche Workshop Sdn Bhd, NLY Sdn Bhd, Mehedi Hasan Sdn Bhd, and World Class Construction Sdn Bhd were each fined BND 1,000 for failing to submit returns for 2019; Tamima Jeny Sdn Bhd was fined BND 800 for failing to submit the 2019 income tax return.
The Revenue Division of the Ministry of Finance and Economy reminds that all companies registered under the Companies Act (Chapter 39) must, by June 30 of each tax assessment year, submit their income tax returns as required, in accordance with Section 52(1) of the Income Tax Act. Failure to do so not only results in court-imposed fines, but the relevant companies are also required to submit the overdue returns, pay any outstanding tax, and may be subject to an additional penalty of up to 17% (if applicable).
The companies announced by the authorities are as follows: Sitikayah Sdn Bhd was fined BND 6,000 for failing to submit income tax returns for the years 2015, 2016, 2017, 2018, and 2019; Snapfeed Sdn Bhd, Tanzila Sdn Bhd, Sayem Sdn Bhd, and Cooper Macdonald Daud Sdn Bhd were each fined BND 4,000 for failing to submit returns for 2016, 2017, 2018, and 2019; Mey Jiang Hardwares Sdn Bhd, Nazmul Jaya Sdn Bhd, Confidence Sdn Bhd, and Shad Sdn Bhd were each fined BND 3,200, also for failing to submit returns for 2016, 2017, 2018, and 2019; Foysal Jaya Sdn Bhd, Alexa Sdn Bhd, and AS Faria Sumon Sdn Bhd were fined BND 3,000, for failing to submit returns for 2017, 2018, and 2019; Attacca Sdn Bhd was fined BND 3,000 for failing to submit returns for 2018 and 2019; Everwide Darulsalam Sdn Bhd, G K S Sdn Bhd, Sheam Sdn Bhd, Lamia Sdn Bhd, Asha Sdn Bhd, PS Supply Sdn Bhd, and Shafaifa binti Marwa Sdn Bhd were each fined BND 2,000 for failing to submit returns for 2018 and 2019; Procity Sdn Bhd, M.M.S.S.B Contractor Sdn Bhd, Malitha Sdn Bhd, S.A. Aryan Sdn Bhd, Amir Foysal Sdn Bhd, Maniche Workshop Sdn Bhd, NLY Sdn Bhd, Mehedi Hasan Sdn Bhd, and World Class Construction Sdn Bhd were each fined BND 1,000 for failing to submit returns for 2019; Tamima Jeny Sdn Bhd was fined BND 800 for failing to submit the 2019 income tax return.
The Revenue Division of the Ministry of Finance and Economy reminds that all companies registered under the Companies Act (Chapter 39) must, by June 30 of each tax assessment year, submit their income tax returns as required, in accordance with Section 52(1) of the Income Tax Act. Failure to do so not only results in court-imposed fines, but the relevant companies are also required to submit the overdue returns, pay any outstanding tax, and may be subject to an additional penalty of up to 17% (if applicable).