Consented For the Current Building Tax Relief For 2021

The Minister Of Home Affairs stated the Ministry of Home Affairs informed that His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam has consented for the current building tax relief for 2021 to commercial building tax payers under the purview of the Bandar Seri Begawan Municipal Board, Kuala Belait and Seria Municipal Board and Tutong Municipal Board following the second wave of the COVID-19 outbreak since 7th of August 2021.

The objectives for providing the relief are:

First as an incentive to commercial building owners to alleviate the burden of tenants affected by reducing rental rates;

Secondly, to assist in terms of cash flow of building tax payers and tenants for commercial properties; third, to ensure that it will not have a worse effect on building tax arrears; and finally to help reduce the burden on traders who conduct business in privately owned commercial buildings

Source: Radio Television Brunei