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Third Reading of the Income Tax (Amendment) Bill of Bhutan 2020

Third Reading on the Income Tax (Amendment) Bill of Bhutan 2020 was conducted today. The Chairperson of the Economics and Finance Committee, Hon’ble Kinley Wangchuk, member from Athang-Thedtsho constituency, submitted the recommendations of the Committee on the Amendment Bill. 

The House deliberated on both the Committee recommendation and the Amendment Bill clause by clause. The Committee recommendations did not get the support of the House except for the recommendation on new section after Section 5 of the Bill on Publicity and advertisement expenses which states that the publicity and advertisement expenses shall be allowed as deductions on actual expenses incurred or 5 percent of assessed gross income, whichever is lower. 

The House will vote on the Bill tomorrow.