Income Tax (Petroleum) Act · 2022 Revised Edition · Part · Assessments
25. List of companies assessed and notices of assessment
Official textFrom Attorney General's Chambers, unchanged
The Collector shall as soon as possible prepare lists of companies assessed to tax.
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;
Income Tax (Petroleum)
petroleum
“petroleum” means any mineral oil or relative hydrocarbon and natural gas existing in its natural condition and casing-head petroleum spirit but does not include coal or bituminous shales or other stratified deposits from which oil can be extracted by destructive distillation;
Such lists (in this Part called “assessment lists”) shall contain the names and addresses of the companies assessed to tax, the amount of the chargeable profits of each company, the amount of the assessable tax, the amount of the chargeable tax payable by it, and such other particulars as may be prescribed.
chargeable profits
“chargeable profits” means profits ascertained in accordance with the provisions of section 8 or 10A;
Where complete copies of all notices of assessment and of all notices amending assessments are filed in the office of the Collector, they shall constitute the assessment lists for the purpose of this Act.
Terms defined in s 2
chargeable profits
Defined · s 2“chargeable profits” means profits ascertained in accordance with the provisions of section 8 or 10A;
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;
petroleum
Defined · s 2“petroleum” means any mineral oil or relative hydrocarbon and natural gas existing in its natural condition and casing-head petroleum spirit but does not include coal or bituminous shales or other stratified deposits from which oil can be extracted by destructive distillation;
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