Section 37B
Application of section 37 to non-resident director’s remuneration
ActIn forceProvision 52 of 140
Section 37B
(1)
Section 37 applies, in relation to the payment of any remuneration referred to in section 35(2B) by a company to any director of the company who is not resident in Brunei Darussalam as those provisions apply to any interest paid by a person to another person not known to him to be resident in Brunei Darussalam.
(2)
For the purposes of this section —
(a)
any reference in those provisions to interest shall be construed as a reference to such remuneration; and
(b)
the reference to 2.5 per cent in section 37(1) shall be construed as a reference to the rate of tax specified in section 35(2B).
C. Allowances for tax charged