Brunei provides 7 interim measures to support private sectors affected by the COVID pandemic, starting from the 1st August 2021 to 31st December 2021 as follows:
First: Defer the contributions of the Employees Trust Fund (Tabung Amanah Pekerja: TAP) (5%) and Supplemental Contributory Pensions (SCP) (3.5%) for local workers who earn less than $1,500 per month and work in Micro, Small and Medium Enterprise (MSMEs) with total number of employees not exceeding 100 employees.
Second: Provide a salary payment subsidy of 25 percent to local workers in MSMEs which have employees not exceeding 100 people
Third: The government will fund SCP Contributions to the self-employed.
Fourth: Provide at least 30% discount on rental rates on government buildings to MSMEs according to the affected sectors.
Fifth: A tax discount of 50% on corporate income tax for the year of assessment 2022 to the affected sectors.
Sixth: 20% reduction on water and electricity bills for affected companies within the affected sectors.
Seventh: Temporary exemption of customs duty and excise duty for personal hygiene products.
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Source: Ministry of Finance and Economy, Brunei Darussalam.
Photo by Thanapipat Kulmuangdoan
