Only violation proposed for domestic fronting involving two Bhutanese parties The last session of the National Assembly saw a lot of debate around the introduction of a new section in the Penal Code Amendment Bill that criminalized fronting as a fourth degree felony apart from the cancellation of license and …

If there are two contrasting projects in Bhutan, then it is the 1,200 MW Punatsangchu I project hugely exceeding all time and budget limits, while the 720 MW Mangdechu has largely been built within budget and time and is already generating revenue. The outgoing Mangdechu Project MD, A.K Mishra in …

In a bid to reduce imports and promote local products, the Ministry of Economic Affairs (MoEA) has come up with an Import Substitution Report that looks at supporting viable local products that can contribute to import substitution. “The import substitution report will be a guiding document for the private sector …

Also shares concerns on planning and coordination issues The Prime Minister in an interaction with the private media on 8th January made it clear that his government is committed to long term goals and moves during its tenure, even if it leads to the loss of office in 2023. This …

The Finance Minister Lyonpo Namgay Tshering said there there are two ‘beautiful things’ within the Property Tax Bill of Bhutan 2020. The first being the obvious part where the current property transfer tax for land or building has been reduced from five percent to three percent. Also, the vehicle transfer …

The Prime Minister, Dr Lotay Tshering in a recent interaction with the private media opened up on any array of issues including on the difficulties and strains of the Prime Minister’s post. The statement was in the context of the Prime Minister talking of doing away with the Five-year plan …

Mobiles to be around 30% cheaper and hybrid vehicles vehicles to have 50% less tax The Tax (Amendment) Act 2020 of Bhutan saw the controversial five percent voucher tax being removed and there was much appreciation from the public. However, the government will be taking a large annual revenue hit …

The Finance Minister Lyonpo Namgay Tshering introduced the Goods and Services Tax Bill 2020 (GST) on 16th January 2020. The GST Bill is the legal basis of the GST tax which will subsume 11 different rates of Sales Tax (ST) for goods and services manufactured or imported into Bhutan into …

One of the surprises of the Income Tax Bill 2020 (Amendment) was the reduction of the Corporate Income Tax for private companies from the current 30 to 25 percent. The Finance Minister, Lyonpo Namgay Tshering said that the tax cut will mean revenue forgone will be Nu 368 mn a …

An attempt by the Ministry of Finance (MoF) to be transparent in the Personal Income Tax slab in the Income Tax Amendment Bill 2020 lead to people scratching their heads. The confusion was caused because instead of giving the usual Income category and the Tax that is applicable the Department …