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15 January 2020: His Majesty The King graced the Opening Ceremony of the 3rd Session of the Third Parliament.

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 …

Thirty-year-old Pema (name changed) worked in a local drayang in Thimphu for five years before leaving for Iraq to work in a beauty parlor last year. She left behind her two young daughters in hopes to earn good money and pay off her debts. Pema is a single mother and …

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 …

After learning that teachers of both public and private schools are providing tuitions to students to earn money, the Ministry of Education (MoE) will not allow teachers to provide private tuitions to students. Instead, the government will have the schools provide free tuitions to students in the form of remedial …

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 …