By the mid of 2020, the government will impose goods and services tax (GST) in the country. This is to broaden the tax base and widen revenue generation.
The finance ministry is currently in the process of drafting the legislation to implement GST. The Finance Minister, Namgay Tshering said this during the meet the press session on Friday.
“As the government of the day, we are not going to impose additional taxation measures on the taxpayers. This is basically to streamline the system. It will be a win-win situation for both the taxpayers and the government,” he said.
“Taxpayers will not feel the additional burden on them and at the same time we will also see additional revenue flowing in the government’s exchequer.”
