Although the business environment for insurers is challenging, Brunei Darussalam’s small insurance industry continues to expand gradually. Increasingly high court awards to accident victims have impacted the profitability of mandatory automotive and workers’ compensation insurance, while the government’s local business development policies as well as strong support for...
As oil and gas exports form the backbone of the economy, Brunei Darussalam is susceptible to volatility in energy prices, although the government minimises this with a conservative fiscal policy. The budget surplus totalled $2.82bn in 2013, and the IMF has forecast an average real growth rate of 4.5% from 2014 to 2019. Petrochemicals and...
View contact details and general information for some of the leading hotels and resorts in Brunei Darussalam.
Brunei Darussalam is a welcoming and tolerant country, and Bruneians are well accustomed to interacting with foreigners in both business and informal settings. However, certain rules of cultural etiquette should be observed. The Sultanate is an Islamic state, so public displays of affection between sexes should be avoided and the consumption and sale of alcohol is...
Two parallel systems of law operate in Brunei Darussalam. Statutory laws, which regulate mercantile activities and disputes between persons, are generally referred to as the common law system and are based on English Acts and codified laws. These courts are also known generally as civil courts, and have exclusive jurisdiction over all civil and criminal cases. The rules...
Deloitte’s recent “Asia Pacific Tax Complexity Survey” indicated that Brunei Darussalam’s tax environment is one of the least complicated and most attractive for investors. The recent announcement of the corporate income tax rate being revised down to 18.5% from year of assessment 2015 is expected to encourage the business sector to invest and help grow the economy....
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