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 …

The proposal is for a more dynamic annual or multi-year rolling system He says government has started the process in the way it will now allocate the budget In what is a major reform, the Prime Minister’s office is at the heart of initiating a major change in the current …

This revamped breast feeding allowance would cost Nu 1.5 to Nu 1.3 bn during this government’s remaining tenure and Nu 1.8 bn over a 5-year period In a major development, the cabinet on 6th January approved the Nu 1.8 bn ‘Accelerated Mother and Child Healthcare Allowance,’ for the next five …

While the official 12th plan is Nu 310 bn with a fiscal deficit of Nu 29 bn it is well known that the real deficit could be up to Nu 40 bn due to DNT’s various pledges outside the plan. Fiscal deficit is the gap between the total resources available …

GST, Income Tax Act, Property Tax, FI 2020, Supplementary Budget and Tourism Levy Exemption all coming in this mega finance NA session The third session of the third Parliament of Bhutan scheduled from 15th January to 6th March 2020 will see a host a taxation laws and amendments coming into …

The plan was for the 720 MW Mangdechu project to generate around 3 bn units a year at the rate of Nu 4.12 a unit to generate Nu 12.3 bn in revenue of which around Nu 4 bn would be deducted for loan repayment. This may still be possible if …

The Prime Minister on 3rd December had written to the Royal University of Bhutan (RUB) requesting it to relocate the Gedu College of Business Studies from its current location in Gedu. The PM in the letter said that the national fertility rate had dropped to 1.7 percent and primary school …

With the GDP growth rate hitting the second lowest recorded low of 3.03 percent in 2018, slowing of credit due to a liquidity crunch and its impact on large sections of the private sector- the situation looks bleak. The Bhutanese asked the Finance Minister and Prime Minister on the government’s …