The Supreme Court has come up with a set of draft regulations on regulating private money lending based on the Financial Services Act which says that money lending has to be regulated. The regulations were in the works for the last few months. The draft regulations are being handed over …

The Royal Monetary Authority (RMA) recently announced the ‘Minimum Lending Rate’ (MLR) policy effective from 1st August 2016 which replaces the earlier 2012 Base Rate system of the RMA which was blamed for the higher interest rates since its introduction. Base rate is the minimum rates below which banks cannot …

In what will be the biggest reform of Bhutan’s indirect taxation system the Department of Revenue and Customs (DRC) under the Ministry of Finance is aiming to replace the current sales tax, customs duty tax and excise duty tax with a single Goods and Services Tax or GST. Though not …

The Ministry of Finance (MoF) will now sit down to define ‘Pressing and emergency personnel need,’ mentioned in a 13th December 2000 circular issued by it. The Supreme Court on 28th July 2016 acquitted MP Rinzin Dorje of embezzling public property and not violating the 13th December 2000 MoF circular …

The Prime Minister, Lyonchhen Tshering Tobgay, who has been actively involved in supervising the disaster rehabilitation works for the last one week in Southern Bhutan said that Bhutan is well on the way to recovery from the first wave. He said, “Our main concern is of more heavy rains in …

For months there has been talk, especially from the government of a major policy to basically reduce loan interest rates. That policy billed as a ‘National Policy’ by the Royal Monetary Authority was the ‘Minimum Lending Rate’ policy effective from 1st August 2016 which replaces the earlier 2012 Base Rate …

The Bhutan Agriculture and Food Regulatory Authority (BAFRA) has decided to place a temporary ban on the import of all types of chillies after the detection of a banned pesticide in three types of imported Chillies from India. The three imported Chillies are namely Hybrid, Terasani and Akashi which are …

As the government finishes its third year and as 2018 looms closer, the Opposition party has shifted itself to a higher gear in both criticizing the government and pointing to shortfalls, including election pledges made in 2013. In the most detailed and arguably the longest press conference till date the …

Two recent political phenomenon that have shaken political capitals has been the rise of Trump and Brexit or Britain’s recent exit from the European Union. Both are related in that they show the growing distrust of mainstream political parties, politicians and political institutions including the US Congress in USA and …

The Ministry of Finance (MoF) is currently in the process of studying a Revenue or Tax Intelligence System, that once set up will monitor tax evasions and investigate tax frauds. The Department of Revenue and Customs (DRC) under MoF has submitted a proposal to the MoF which is looking at …