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The National Assembly re-deliberates The Income Tax (Amendment) Bill of Bhutan 2020

Posted on :14 February 2020

The National Assembly re-deliberated on the amendment recommendations received from the National Council on the Income Tax (Amendment) Bill of Bhutan 2020. 

The National Council submitted amendments on Section 2 pertaining to Commencement, Section 7 on rate of income tax  for companies,  Section 8  amendment to Section 45.2(a) of Chapter 9 under Part 1 , Section 9 on net  taxable income, Section 12 on exemption of dividend income from Bhutanese companies and  Section 14 on allowable deductions for Education Allowance.

The National Assembly did not support most of the amendments made by the National Council. However during the deliberation on the recommendation made by the National Council to  increase the allowable deductions for education allowance to Nu. 350,000 which was Nu. 100,000 more than what was recommended by the National Assembly,  the National Assembly supported the amendment from the National Council with 35 Yes, 8 Abstain and 1 No out of 44 Members present and voting. 


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