Brunei: Wealth Management
Estate duty is levied under the Stamp Act, Cap 34, on all immovable property in Brunei Darussalam and movable property wherever situated for persons domiciled in Brunei Darussalam at the time of death. There is double taxation relief for estate duty paid overseas on assets that are also charged to estate duty in Brunei Darussalam.
Estate duty is not payable in the case of person dying on or after December 15, 1988, on the first B$2.0 million of the aggregate value of the deceased's interest in a dwelling house or dwelling houses, whether occupied by the deceased or not, and the amount thereof does not form part of the value of the estate charged with estate duty of any deceased person. If the value of the dwelling houses exceeds B$2.0 million, the estate duty payable on this part of the estate is 3% of the excess.