Three local companies were ordered to settle fines for failing to comply with Section 52 1, Income Tax Act Section 35. The companies failed to submit Income Tax Returns for the relevant Financial Years.
Ar-Barakah Sendirian Berhdd was fined $4,000 for failing to submit Income Tax Returns for the Financial Years 2017, 2018, 2019 and 2020. Savers International Sendirian Berhad was fined $4,000 for failing to submit Income Tax Returns for the Financial Years 2016, 2017, 2018, 2019 and 2020. GEIO Sendirian Berhad was fined $2,000 for failing to submit Income Tax Returns for the Financial Years 2019 and 2020.
The Revenue Division, Ministry of Finance and Economy reminds that the companies registered under the Companies Act, Chapter 39 are required to submit their Income Tax Returns latest by 30th June of the relevant Year of Assessment.
Source: Radio Television Brunei