Third Reading on the Tax Bill of Bhutan 2022
The Chairperson of the Economics and Finance Committee, the member from Gangzur-Minjey submitted the Committee’s recommendations on the Bill. The House deliberated in length on the taxation schedules.
The following were the items submitted by the government for considering revision in taxation and being reviewed by the committee:
- Chicken and pork and its related items;
- Milk powder;
- Edibles seeds and lentils;
- Areca nuts and Betel leaves;
- Gingers;
- Cereals;
- Vegetable oils;
- Homogenized meat products;
- Sugar confectioneries;
- Noodles and pastas;
- Rice and breads;
- Juice items;
- Tobacco and related items;
- Cements and related products;
- Plastics;
- Gold and silver;
- Heavy machine rides;
- Wood and metal furniture.
In addition to the above list, the committee also made an in-depth study and recommended to include milk, butter, cheese, and eggs and their related products to consider for the imposition of taxes. The committee also recommended the imposition of taxes on hume pipe and wire mesh. These recommendations are based on import substitution, conserving hard currency, promoting local products and improving the overall trade balance.
In today’s deliberation, the house has completed up to Tobacco. The deliberation on the rest of the Committee’s recommendations and the Government proposal on the Schedule will be continued tomorrow.
The revision on the taxation rate will be available to the public once the process of deliberation is over but within this Winter Session.
