Changes

The Brunei Government encourages more foreign investment. New enterprises that meet certain criteria can receive pioneer status, exempting profits from income tax for up to 5 years, depending on the amount of capital invested. The normal corporate income tax rate is 30%. There is no personal income tax or capital gains tax.  

The Brunei Government encourages more foreign investment. New enterprises that meet certain criteria can receive pioneer status, exempting profits from income tax for up to 5 years, depending on the amount of capital invested. The normal corporate income tax rate is 30%. There is no personal income tax or capital gains tax.  

 

One of the government's priorities is to encourage the development of Brunei Malays as leaders of industry and commerce. There are no specific restrictions of foreign equity ownership, but local participation, both shared capital and management, is encouraged. Such participation helps when tendering for contracts with the government or Brunei Shell Petroleum.  

One of the government's priorities is to encourage the development of Brunei Malays as leaders of industry and commerce. There are no specific restrictions of foreign equity ownership, but local participation, both shared capital and management, is encouraged. Such participation helps when tendering for contracts with the government or Brunei Shell Petroleum.  

*Growth rate (2006 est.): 3.7%.

*Growth rate (2006 est.): 3.7%.

*Natural resources: Oil and natural gas.

*Natural resources: Oil and natural gas.

*Trade: Exports--oil, liquefied natural gas, petroleum products, garments. Major markets--Japan, Korea, ASEAN, U.S. Imports--machinery and transport equipment, manufactured goods. Major suppliers--ASEAN, Japan, U.S., EU.  

*Trade: Exports--oil, liquefied natural gas, petroleum products, garments. Major markets--Japan, Korea, ASEAN, U.S. Imports--machinery and transport equipment, manufactured goods. Major suppliers--ASEAN, Japan, U.S., EU.

==History==  

==History==