Section 8
Charge of income tax
(1)
Income tax shall, subject to the provisions of this Act, be payable at the rate or rates specified hereinafter for each year of assessment upon the income of any person accruing in, derived from, or received in,
Brunei Darussalam in respect of —
(a)
gains or profits from any trade, business, profession or vocation, for whatever period of time such trade, business, profession or vocation may have been carried on or exercised;
(b)
gains or profits from any employment including the estimated annual value of any quarters or board or residence or of any other allowance other than a subsistence, travelling or an entertainment allowance which is proved to the satisfaction of the
Collector to have been expended for purposes other than those in respect of which no deduction is allowed under section 12 granted in respect of employment whether in money or otherwise;
(c)
the net annual value of land and improvements thereon used by or on behalf of the owner or used rent free by the occupier, for the purpose of residence or enjoyment, and not for the purpose of gain or profit;
(d)
dividends, interest or discounts;
(e)
any pension, charge or annuity;
Income Tax
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(f)
rents, royalties, premiums and any other profits arising from property.
(2)
Any sum realised under any insurance against loss of profits shall be taken into account in the ascertainment of any profits or income.
(3)
Where, under the provisions of section 14, 17 or 18, a balancing charge falls to be made, the amount thereof is deemed to be income chargeable with tax.