Section 99
of Investment Incentives Order, 2001
Section 99
(1)
Any company incorporated in Brunei Darussalam which is desirous of using in
Brunei Darussalam a new technology in relation to a product, process or service may make an application in the prescribed form to the Minister to be approved as a technology company.
(2)
Where the Minister is satisfied that the technology, if introduced in Brunei
Darussalam, would promote or enhance the economic or technological development in Brunei
Darussalam, he may approve the company as a technology company and issue a certificate to that company subject to such conditions as he thinks fit.
Incorporating amendments until S 5/2011
(Cleancopy) NANI/H.AFIF/fiqah _ as of 11th March 2020
65
BLUV as at 16th February 2011
(3)
Every certificate issued under this section shall specify a percentage, not exceeding 30%, of such amount of the paid-up capital of the technology company as is held by any eligible holding company for the purpose of determining the deduction under section 100.
Deductions allowable to eligible holding company.