Section 79
of Investment Incentives Order, 2001
Section 79
(1)
For the purposes of this Part, unless the context otherwise requires –
“approved project” means a project approved by the Minister under subsection
(2)
of section 80;
“construction operations” means –
(a)
construction, alteration, repair, extension or demolition of buildings and structures;
(b)
construction, alteration, repair, extension or demolition of any works forming, or to form, part of any land; or
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(c)
any operations which form an integral part of, or are preparatory to, or are for renderings complete the operations described in paragraph (a) or
(b)
including site clearance, earth-moving excavation, laying of foundations, site restoration, landscaping and the provision of drains and of roadways and other access works;
“fixed capital expenditure” means capital expenditure to be incurred on an approved project by a company on factory building (excluding land) in Brunei
Darussalam, on the acquisition of any know-how or patent rights, and on any new productive equipment (and, subject to the approval of the Minister, on any secondhand productive equipment) to be used in Brunei Darussalam, and the reference to factory building in this definition shall, in relation to a project under paragraph (b), (c), (d), (f) or (g) of subsection (1) of section 80, include a building or structure specially designed and used for carrying out that project;
“investment day”, in relation to a company, means the date specified in its certificate as the date from which the company shall qualify for the investment allowance;
“research and development” has the same meaning as in the Income Tax Act
(Chapter 35).
(2)
For the purposes of this Part, fixed capital expenditure shall not be deemed to be incurred by a company unless –
(a)
in the case of any factory building or productive equipment to be constructed or installed on site, the expenditure is attributable to payment against work done in the construction of the building or the construction or installation of the productive equipment;
(b)
in the case of any productive equipment, other than that to be constructed or installed on site, the company has received delivery of the equipment in Brunei Darussalam.
Incorporating amendments until S 5/2011
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Capital expenditure investment allowance.