Southeast Asia: actual problems of development

[Yugo-Vostochnaya Azia: aktualnye problemy razvitiya] ISSN 2072-8271

Articles

Muranova Anna

Tax incentives for private business in Brunei Darussalam

ЮГО-ВОСТОЧНАЯ АЗИЯ: АКТУАЛЬНЫЕ ПРОБЛЕМЫ РАЗВИТИЯ, 2010, №15, 226-245

Рубрика: АКТУАЛЬНЫЕ ПРОБЛЕМЫ РАЗВИТИЯ ОТДЕЛЬНЫХ СТРАН

 
Annotation: Dr. A. P. Muranova's paper is dedicated to taxation in Brunei Darussalam. It is noted that Brunei's tax system is one of the most liberal in Asia. Brunei has the least taxes compared to other countries in the region. There are no personal income tax, no export, sales and payroll taxes. Companies are subject to corporate tax, with the rate declining in the recent years. The government encourages national private sector's activities and foreign investment inflow through the system of tax incentives which was firstly introduced in 1975 and fundamentally revised in 2001. The Brunei International Financial Centre was established in 2000 and deals as offshore centre.

Keywords: BRUNEI DARUSSALAM, TAXATION, THE BRUNEI INTERNATIONAL FINANCIAL CENTRE

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