Section 26

The Collector shall cause to be served upon each company whose name appears on the assessment lists a notice stating the amount of its chargeable profits, the assessable tax, the tax payable by such company, the place within Brunei Darussalam at which such payment should be made, and informing it of its rights under subsection (2). Any such amount of chargeable profits, assessable tax and tax payable may be stated in a notice of assessment in such currencies as the Collector may deem fit.

If any company disputes the assessment, it may apply to the

Collector, by notice of objection in writing, to review and to revise the assessment made upon it. Such application shall state precisely the grounds of objection to the assessment and shall be made within 60 days from the date of the service of the notice of assessment:

Provided that the Collector, upon being satisfied that, owing to the absence from Brunei Darussalam or sickness of any person or due to other reasonable cause, the company disputing the assessment was prevented from making the application within such period, shall extend the period as may be reasonable in the circumstances.

On receipt of the notice of objection referred to in subsection (2), the Collector may, by notice in writing, require the company giving notice of objection to furnish such particulars as the Collector may deem necessary, and may, by notice in writing, summon any person who, in his opinion, is able to give evidence with respect to the assessment to attend before him and may examine such person on oath or otherwise. Any person so attending may be allowed by the Collector any reasonable expenses necessarily incurred by such person in so attending.

Income Tax (Petroleum)

In the event of any company assessed, which has objected to an assessment made upon it, agreeing with the Collector as to the amount of the chargeable tax, the assessment shall be amended accordingly, and notice of the tax payable shall be served upon such company:

Provided that in the event of any company, which under subsection (2)

has applied to the Collector for revision of the assessment made upon it, failing to agree with the Collector as to the amount of the assessable tax and the chargeable tax, its right of appeal under the provisions of this Act against the assessment made upon it shall remain unimpaired.

If the notice of objection raises a dispute as to the price

(as defined in section 8(2)) of any petroleum then, in default of agreement between the company and the Collector within 60 days of the notice of objection (or such other period as may be agreed), the dispute shall be automatically referred to the Price Review Committee for determination in accordance with the provisions of section 27. The determination of the Price

Review Committee thereon shall be final and conclusive for the purposes of assessment under this Act and notwithstanding any other provisions of this

Act no appeal shall lie against the determination.