Section 61
of International Insurance and Takaful Order, 2002
Section 61
(1)
No income tax, tax on capital gains or other tax, duty, levy or imposition of any description shall be payable, levied, withheld or collected in respect of the business of any licensee carried on or transacted under this Order.
(2)
No estate, inheritance, succession or similar tax shall be levied in respect of any business of any licensee carried on or transacted under this Order.
47
BLUV as at 14th January 2016
(3)
Notwithstanding anything in the Stamp Act (Chapter 34), duty shall not be chargeable on any instruments relating to the business of any licensee carried on or transacted under this Order, or relating to any policy or other document in any way concerning such business.
(4)
Notwithstanding any other written law, no filing or presentation of documents with or to any taxing or other analogous authority in Brunei Darussalam shall be required.
(5)
Expressions used in subsection (3) have the same meaning as in the Stamp Act
(Chapter 34).
(6)
The exemptions conferred on a licensee by subsections (1) to (4) may, at no extra charge, be evidenced by a certificate issued by the Authority confirming that the licensee is so exempt; and, without prejudice to the possibility of the issue of a further such certificate, any such certificate shall be valid for a period of 10 years from the date thereof.