Online business: A threat to shopkeepers

A group of girls are engrossed in their phone. They browse the screen with great excitement as they do “online shopping” viewing photos of the products, along with product specifications, features and prices. Various online shopping websites such as Air BNB, Alibaba, eBay, Myntra and B-bay-buying and selling are increasingly becoming popular among the buyers. […]

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Income Tax Bill 2020 could impact nation’s economic self-reliance: NC

The National Council (NC) recommended that Income Tax (Amendment) Bill 2020 could seriously impact the national goal of economic self-reliance and create more deficits at this time. In this context, NC’s Economic Affairs Committee (EAC) proposed two options to the house, either not to pass the Bill in its entirety or to pass with amendments […]

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PIT exemption ceiling to be to Nu 300,000 from Nu 200,000

The government has proposed to increase the Personal Income Tax (PIT) ceiling from Nu 200,000 to Nu 3000,000. Finance Minister Namgay Tshering presented the bill at the National Assembly to amend Income Tax Act 2001 and revised Taxes and levies Act 2016 on Thursday. Lyonpo said that the objective of amending the bill was to […]

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Govt. holds Public-Private Dialogue on GST

Following the government’s announcement to introduce Goods and Services Tax (GST) at 7% in the National Assembly, a Public-Private Dialogue on GST was held at the office of the Bhutan Chamber of Commerce & Industry (BCCI) yesterday afternoon. The meeting was attended by the Prime Minister, Finance Minister, parliamentarians, government officials and stakeholders from the […]

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Goods and services price up by more than 2%

Inflation in food and non-alcoholic beverages shot up by 4.34% in November 2019 Rising food prices pushed the retail inflation in November last year to 2.34% from November 2018, states the recent National Statistical Bureau’s consumer price index (CPI) report. It shows that Bhutanese on an average paid 2.34% more for goods and services in […]

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31 e-commerce licenses issued since last year

More are expected to be issued in the coming years with the launch of e-commerce guidelines The Department of Trade has issued 31 e-commerce licenses to operate online based businesses since last year. The department started issuing the licenses from July last year after launching e-commerce policy guidelines. The Department of Cottage and Small Industry […]

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