In order to overhaul the existing sales tax regime, the government has proposed to introduce Goods and Services Tax (GST) with a standard single rate of 7% in place of multiple rates under the existing sales tax regime during the third session of the third parliament on Thursday. Finance Minister Namgay Tshering said the GST […]
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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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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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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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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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Vehicle sale in Bhutandropped last year, but the number still passed the healthy revenue generator for second hand cars brokers. Vehicle showrooms sold more than 1,500 new cars. Although buyers spent more on vehicles, showrooms had to prop up sales with record discounts, according to vehicle sold report 2019. Following a long trend, around 70% […]
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Following suit the salary raise of civil servants and State Owned Enterprises (SOEs), Druk Holding and Investments (DHI) and it companies have also raised their salary. DHI and companies raised their salary from 22% to 60%. The DHI board approved the revised pay scale, 20% of basic pay as corporate allowance and 15% of basic […]
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As the potato auction season ends, the Food Corporation of Bhutan Limited (FCBL) has recorded auction of potato worth Nu 51mn more than the last season through conventional auction. However, the total auction has reduced as compared to the last season. FCB auctioned around 24,200 Metric Ton (MT) of potato this season worth around Nu […]
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Decline in prices of goods in manufacturing sector led to the drop in producer price index (PPI) to 4.55% in the third quarter (July to September) from the previous year, states the National Statistical Bureau (NSB). The PPI measures the average price change of goods and services overtime from producer’s perspective unlike consumer price index […]
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The vice president of the Bhutan Chamber of Commerce and Industry (BCCI), Tashi Dorji, maintained that the Way Forward report for BCCI submitted to the economic affairs ministry and the subsequent presentation made to the ministry is unique of its kind. The BCCI, meanwhile, presented the Way Forward presentation to the economic affairs minister, Lyonpo […]
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