Brunei MOF Announces Interim Tax Support Measures Due to Coronavirus

The Bruneian Ministry of Finance and Economy Aug. 12 announced interim tax support measures due to the coronavirus pandemic. The measures include: 1) a 50 percent reduction in the corporate income tax payable for the 2022 assessment year; 2) an excise tax exemption for hygiene products; 3) a 25 percent wage subsidy for micro, small, and medium enterprises (PMKS) with employees earning 1,500 Brunei dollars (US$1,102) and below per month; 4) a payment deferral of 5 percent under the employee trust fund (TAP) and of 3.5 percent under the supplementary pension (SCP) regimes; and 5) a 30 percent reduction for ...