Investment Incentives Order, 2001 · As enacted · Part XI · Investment Allowances
81. Investment allowance
Official textFrom Attorney General's Chambers, unchanged
( 1)
The investment allowance granted under section 80 shall be a specified percentage not exceeding 100% of the amount (which may be subject to a specified maximum) of fixed capital expenditure incurred on each item specified by the
fixed capital expenditure
"fixed capital expenditure" means capital expenditure to be incurred on any building (excluding land) and on any new productive equipment (and, subject to the approval of the Minister, on any secondhand productive equipment) to be used in Brunei Darussalam;
Minister under subsection (2) on an approved project if the fixed capital expenditure is incurred-
Minister
"Minister" means the Minister charged with the responsibility for industrial development;
{a) within such period (referred to in this Order as the qualifying period), not exceeding 5 years, commencing from the investment day as the Minister may determine; and
qualifying period
"qualifying period", in relation to a technology company, means a period of 3 years from the day it commences, for the purposes of the Income Tax Act, to carry on its relevant trade or business;
{b)
in the case of a project under paragraph {g) of subsection (1) of section 80, within such period (hereinafter referred to as the qualifying period), not exceeding 11 years, commencing from the investment day as the Minister may determine.
The Minister-
{a)
shall specify the items of the fixed capital expenditure for the purposes of subsection ( 1); and
{b)
may specify the maximum amount of the investment allowance granted for the approved project.
Where any question arises as to whether a particular item qualifies as one of the items under paragraph {a) of subsection (2), it shall be determined by the Minister whose decision shalf be final.
In subsection (1), "specified" means specified by the Minister.
Terms defined in this Act
fixed capital expenditure
Defined · s 88"fixed capital expenditure" means capital expenditure to be incurred on any building (excluding land) and on any new productive equipment (and, subject to the approval of the Minister, on any secondhand productive equipment) to be used in Brunei Darussalam;
Minister
Defined · s 3"Minister" means the Minister charged with the responsibility for industrial development;
qualifying period
Defined · s 98"qualifying period", in relation to a technology company, means a period of 3 years from the day it commences, for the purposes of the Income Tax Act, to carry on its relevant trade or business;
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