From June to August 2022, eighteen local companies were ordered to settle fines at the Magistrate’s Court for failing to comply with Section 52(1) of the Income Tax Act, Chapter 35. Seventeen companies pleaded guilty at the Magistrate’s Court for failing to submit Income Tax Returns for the respective Financial Years.

Manzian dan Anak- Anak Sdn Bhd; Khan Carpet Sdn Bhd; Kemajuan Pertanian Malar Hijau Sdn Bhd and Qamar Sdn Bhd were issued $5,000 fine respectively.

While, Hi Rope Engineering Brunei Sdn Bhd and Seri Akshaya Contractor Sdn Bhd were each fined $4,000.

Admax Brothers Sdn Bhd was fined to $3,600.

Momin Engineering Services Sdn Bhd; Arsalan Jaya Sdn Bhd; Syams & Rully Sdn Bhd were issued $3,000 fine respectively.

Joun BRN Tour Sdn Bhd; Northstar Petroleum Corporation Sdn Bhd; JRA Barakah Sdn Bhd and Kartis & Sons Sdn Bhd were each fined to $2,000.

While M.E Real Estate Sdn Bhd; Hadson International University Sdn Bhd and Tanawal Sdn Bhd were each issued a fine amounting to $1,000.

Mass Kamal Sdn Bhd was found guilty by the Magistrate’s Court and fined $7,500.

The Revenue Division, Ministry of Finance and Economy would like to remind that companies registered under the Companies Act, Chapter 39 are required to submit their Income Tax Returns no later than 30th of June of the relevant Year of Assessment.

Source: Radio Television Brunei