Investment Incentives Order, 2001 · s 59

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59.
\1)
The income of an export service company in respect of its qualifying services shall be ascertained (after making such adjustments as may be necessary in consequence of a direction under section 10 as made applicable by section 58)
for any accounting period during its tax relief period in accordance with the
Income Tax Act, and, in particular, the following provisions shall apply -
{a}
income from sources other than the qualifying services shall be excluded and separately assessed;
{b)
there shall be deducted in arriving at the income derived from the qualifying services -
(i)
all direct costs and expenses incurred in respect of the qualifying services;
(ii)
all indirect expenses which are reasonably and properly attributable to the qualifying services;
{c) the allowances provided for in sections 13 to 18 of the Income Tax
Act attributable to income derived from the qualifying services during the tax relief period shall be taken into account; and
{d) for the purposes of subparagraph (ii) of paragraph {b) and paragraph {c), the amounts attributable to the qualifying services shall be determined on such basis as the Collector thinks reasonable and proper.
(2)
The amount of income ascertained under subsection ( 1) which will qualify for the relief under section 60 shall be the excess of the amount of the 1341

BRUNEI DARUSSALAM GOVERNMENT GAZETTE income ascertained under subsection (1) over a base amount of income to be determined by the Minister.

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s 59\1)

The income of an export service company in respect of its qualifying services shall be ascertained (after making such adjustments as may be necessary in consequence of a direction under section 10 as made applicable by section 58)

for any accounting period during its tax relief period in accordance with the

Income Tax Act, and, in particular, the following provisions shall apply -

{a}

income from sources other than the qualifying services shall be excluded and separately assessed;

{b)

there shall be deducted in arriving at the income derived from the qualifying services -

(i)

all direct costs and expenses incurred in respect of the qualifying services;

(ii)

all indirect expenses which are reasonably and properly attributable to the qualifying services;

{c) the allowances provided for in sections 13 to 18 of the Income Tax

Act attributable to income derived from the qualifying services during the tax relief period shall be taken into account; and

{d) for the purposes of subparagraph (ii) of paragraph {b) and paragraph {c), the amounts attributable to the qualifying services shall be determined on such basis as the Collector thinks reasonable and proper.

(2)

The amount of income ascertained under subsection ( 1) which will qualify for the relief under section 60 shall be the excess of the amount of the 1341

BRUNEI DARUSSALAM GOVERNMENT GAZETTE income ascertained under subsection (1) over a base amount of income to be determined by the Minister.