Income Tax (Petroleum) Act · 2022 Revised Edition · Part · Assessments
24. Additional assessments
Official textFrom Attorney General's Chambers, unchanged
Where it appears to the Collector that any company liable to tax has not been assessed or has been assessed at a less amount than that which ought to have been charged, the Collector may, within the year of assessment or within 12 years after the expiration thereof, assess such company at such amount or additional amount as according to his judgment ought to have been charged, and the provisions of this Act as to notice of assessment, appeal and other proceedings under this Act apply to such assessment or additional assessment and to tax charged thereunder.
Collector
“Collector” means the Collector of Income Tax appointed under section 3 and includes for all purposes of this Act, except the powers conferred on the Collector by sections 38, 39 and 42, a Deputy Collector so appointed;
Terms defined in s 2
Collector
Defined · s 2“Collector” means the Collector of Income Tax appointed under section 3 and includes for all purposes of this Act, except the powers conferred on the Collector by sections 38, 39 and 42, a Deputy Collector so appointed;
company
Defined · s 2“company” means a company incorporated or registered in Brunei Darussalam under the Companies Act or under any law in force elsewhere, but does not include the company acting as a State Party in a petroleum mining Agreement in accordance with the Petroleum Mining Act;
year of assessment
Defined · s 2“year of assessment” means the period of 12 months commencing on the 1st day of January 1963, and each subsequent period of 12 months.
Part
Appeals
Part
Collection, Recovery and Repayment of Tax
Part
Offences and Penalties
Part