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Tax Structure

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Tax Incentive

Pioneer Status | Incentives from Foreign Loans | Incentives for Expansion of Established Enterprises

Pioneer status

Any limited company which have been granted Pioneer Certificate are given the following incentives:

1.	Exemption from Corporate Tax
	The 30% corporate tax is exempted for a pioneer company for a basic period of two to five years depending on the level of fixed capital expenditure as follows:
	Fixed Capital Expenditure	Tax Exemption Period
	Less than B$250,000	2 years
	B$250,000 but less than B$500,000	3 years
	B$500,000 but less than B$ 1 million	4 years
	B$ 1 million or more	5 years
	The tax exemption commences on the first day of production and may be extended for another three more years under certain circumstances.
2.	Exemption from Taxes on Imported Capital Goods
	A pioneer company is also exempted from customs duty on land, machinery and equipment to be installed in the pioneer factory
3.	Exemption from Taxes on Imported Raw Materials
	A pioneer company is exempted from paying import duties raw materials not available or produced in Brunei Darussalam which are intended for the production of the pioneer products.

Incentives for Foreign Loans

The imposed 20% with-holding tax for interest paid to non-resident lenders. The government may grant tax exemption for any "approved foreign loan" if :

1. The loan is utilised for the purchase of productive equipment

2. The credit facilities are obtained through financial agreement with the foreign lending company.

3. The amount of loan is not less than B$200,000

Incentives for Expansion of Established Enterprises

Any company, whose industry has been declared to be an Approved Industry and Products, intending to incur new capital expenditure for the purpose of the manufacture or increased manufacture of an Approved Product may apply for an Expansion Certificate.

An approved expanding company can be given tax exemption up to a period of five years subject to certain conditions as follows:-

New Capital Expenditure	Tax Exemption Period
Up to B$250,000	3 years
More than B$250,000	5 years

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