Investment Incentives Order, 2001 · As enacted · Part VIII
59. \1)
Official textFrom Attorney General's Chambers, unchanged
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)
export service company
"export service company" means a company which has been issued with a certificate under subsection (2) of section 56;
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;
qualifying services
"qualifying services" means any of the following services undertaken with resp,ect to overseas projects for persons who are neither residents of nor permanent establishments in Brunei Darussalam- (a) technical services including construction, distribution, design and engineering services; (b) Consultancy, management, supervisory or advisory services relating to any technical matter or to any trade or business; (c) fabrication of machinery and equipment and procurement of materials, components an equipment; (d) data processing, programming, computer software development, telecommunications and other computer services; (e) professional services including accounting, legal, medical and architectural services; (f) educational and training services; and (g) any other services as the Minister may prescribe. Application for and issue of certificate to export service company.
{b)
there shall be deducted in arriving at the income derived from the qualifying services -
all direct costs and expenses incurred in respect of the qualifying services;
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.
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.
Minister
"Minister" means the Minister charged with the responsibility for industrial development;
Terms defined in this Act
Collector
Defined · s 3"Collector" means the Collector of Income Tax appointed under the Income Tax Act;
export service company
Defined · s 55"export service company" means a company which has been issued with a certificate under subsection (2) of section 56;
Minister
Defined · s 3"Minister" means the Minister charged with the responsibility for industrial development;
qualifying services
Defined · s 55"qualifying services" means any of the following services undertaken with resp,ect to overseas projects for persons who are neither residents of nor permanent establishments in Brunei Darussalam- (a) technical services including construction, distribution, design and engineering services; (b) Consultancy, management, supervisory or advisory services relating to any technical matter or to any trade or business; (c) fabrication of machinery and equipment and procurement of materials, components an equipment; (d) data processing, programming, computer software development, telecommunications and other computer services; (e) professional services including accounting, legal, medical and architectural services; (f) educational and training services; and (g) any other services as the Minister may prescribe. Application for and issue of certificate to export service company.
Part IX
International Trade Incentives
Part X
Foreign Loans for Productive Equipment
Part XI
Investment Allowances
Part XII
Part XIII