Income Tax Act · 2024 Revised Edition · Part · Ascertainment of Income
22. Profits of non-resident shipowner and charterer
Official textFrom Attorney General's Chambers, unchanged
Where for any period a non-resident person who carries on the business of shipowner or charterer produces the certificate mentioned in subsection (2), the profits accruing in Brunei Darussalam from the business for such period, before deducting any allowance for depreciation, shall be a sum bearing the same ratio to the sums receivable in respect of the carriage of passengers, mails, livestock and goods shipped in Brunei Darussalam as the total profits for that period bear to the total sum receivable by him in respect of the carriage of passengers, mails, livestock and goods, as shown by the certificate.
The certificate shall be one issued by or on behalf of any income tax authority with regard to which the Collector is satisfied that it computes and assesses the full profits of the non-resident person from his shipping business on a basis not materially different from that provided by this Act, and shall certify for any accounting period as regards such business —
the ratio of the profits or, where there are no profits, of the loss, as computed for the purposes of income tax by that authority, without making any allowance by way of depreciation, to the total sums receivable in respect of carriage of passengers, mails, livestock or goods; and
the ratio of the allowance for depreciation as computed by that authority to that total sums receivable in respect of the carriage of passengers, mails, livestock and goods.
Where, at the time of assessment, the provisions of subsection (1) cannot, for any reason, be satisfactorily applied, the profits accruing in Brunei Darussalam may be computed on a fair percentage of the full sum receivable on account of the carriage of passengers, mails, livestock and goods shipped in Brunei Darussalam:
Income Tax
Provided that where any person has been assessed for any year of assessment by reference to such percentage, he shall be entitled to claim at any time within 6 years after the end of such year of assessment that his liability to tax for the year be recomputed on the basis provided by subsection (1).
year of assessment
“year of assessment” means the period of 12 months commencing on the 1st day of January 1950 and each subsequent period of 12 months.
Where the Collector decides that the call of a ship belonging to a particular non-resident shipowner or charterer at a port in
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 76, 79, 80 and 83, a Deputy Collector so appointed;
Brunei Darussalam is casual and that further calls by that ship or others in the same ownership are improbable, the provisions of this section do not apply to the profits of such ship and no tax shall be chargeable thereon.
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 76, 79, 80 and 83, a Deputy Collector so appointed;
year of assessment
Defined · s 2“year of assessment” means the period of 12 months commencing on the 1st day of January 1950 and each subsequent period of 12 months.
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Returns
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