Saturday, June 7, 2025
  • Contact Us
  • About BBS
  • Privacy & Policy
ENG
DZO
BBSCL Logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
Radio Live
No Result
View All Result
BBSCL logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
No Result
View All Result
BBSCL logo
Radio LIVE

NA’s Economic and Finance Committee proposes increasing BST for imported items

November 10, 2022
in Business
Reading Time: 2 mins read
0
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter

The Economic and Finance Committee of the National Assembly proposed increasing Bhutan Sales Tax for imported items. Doing so, the Committee said, will improve the country’s balance of trade which means it will reduce imports. Balance of trade is the difference in value between a country’s imports and exports of goods and services.

Currently, most imported goods are imposed sales tax ranging from zero to up to 100 per cent. According to the Committee’s observation, today, there is a levy of five per cent Bhutan Sales Tax on cement from both India and Bhutan. However, despite this, the price of local cement is higher due to the high cost of production in the country.

“Today when Bhutan imports cement from India, they waive 29 per cent tax and make it to zero. And when it reaches Bhutan, it is levied 5 per cent BST. If the base cost is very low already, no matter five per cent or how much ever tax we impose on the imported cement because our cost of production is expensive, our Bhutanese cement cannot compete with theirs,” said Kinga Penjor, Chairperson of the Committee.

Supporting the committee’s recommendation, the opposition leader said there is a need to reform taxation policy in the country as and when it is required.

“Globally and regionally, in neighbouring countries, when their taxation policy and rules change, our country not being able to change ours from time to time is perhaps one of the reasons why there is an imbalance of trade,” said Dorji Wangdi, Opposition Leader.

The country exported goods worth more than Nu 52bn last year while the import was more than Nu 90bn.

With the majority show of hands, the house supported the committee’s recommendation. The deliberation on the rest of the issues and recommendations will continue next week.

Samten Dolkar

Previous Post

NC members suggest allowing certain developmental activities in protected areas

Next Post

National Assembly adopts Civil Service Reform Bill 2022

Next Post
National Assembly adopts Civil Service Reform Bill 2022

National Assembly adopts Civil Service Reform Bill 2022

Land and building owners to see increase or decrease in taxes come January

Land and building owners to see increase or decrease in taxes come January

Causeway bridge in need of maintenance

Causeway bridge in need of maintenance

Please login to join discussion

RECOMMENDED NEWS

DGPC finalising feasibility study for Solar Project in Wobthang, Bumthang

DGPC finalising feasibility study for Solar Project in Wobthang, Bumthang

1 year ago
90
Central Monastic Body leaves for winter residence in Punakha

Central Monastic Body leaves for winter residence in Punakha

7 years ago
8
Flash flood causes damage in Lhuentse

Flash flood causes damage in Lhuentse

6 years ago
6

Drangpoens of 15 Dungkhags in Thimphu for training

12 years ago
3

BROWSE BY CATEGORIES

  • Accidents (14)
  • Agriculture (426)
  • Announcement (174)
  • Audience Survey Report (1)
  • Business (744)
  • Crime/Legal (367)
  • Culture (47)
  • Development (51)
  • Disaster (57)
  • Economy (278)
  • Education (413)
  • Entertainment (13)
  • Environment (61)
  • Feature (65)
  • Featured (6)
  • Festival (78)
  • GMC (14)
  • Headlines (9)
  • Health (622)
  • Legal (52)
  • Literature (9)
  • Livestock (75)
  • Media (25)
  • Other Stories (5,574)
  • Politics (419)
  • RCSC (1)
  • Recent stories (5)
  • Religion (45)
  • Sci/Tech (709)
  • Social (516)
  • Sports (449)
  • Technology (190)
  • Tourism (19)
  • Uncategorized (13,866)
  • Video (136)
  • Video Story (249)
  • Wildlife (42)

BROWSE BY TOPICS

Tender Announcement Vacancy Announcement

POPULAR NEWS

  • BPC’s investigation rules out transformer short circuit as Damchhu forest fire cause

    Viral video of Bhutanese man assaulted by locals and police in Jaigaon sparks safety concerns

    0 shares
    Share 0 Tweet 0
  • Gelephu Mindfulness City opens recruitment drive for Bhutanese professionals

    0 shares
    Share 0 Tweet 0
  • Newspaper accuses DPT candidate of political ploy

    0 shares
    Share 0 Tweet 0
  • A centenarian’s recipe to longevity

    0 shares
    Share 0 Tweet 0
  • 40 companies risk closure over failure to submit financial reports

    0 shares
    Share 0 Tweet 0
BBSCL

Bhutan Broadcasting Service (BBS) is Bhutan’s primary national broadcaster, delivering diverse news and entertainment in multiple languages, fostering cultural understanding and public knowledge.

Follow us on social media:

Recent News

  • Phuentshogling Thromde installs reverse vending machine to promote recycling
  • Fixed deposit interest to be taxed at 10% under proposed Income Tax Bill
  • Yonphula Specialised Rehabilitation School to open next month
  • RMA to roll out seven new measures for loan repayment support
  • National Housing Strategy to be ready by September

News Category

  • Accidents
  • Agriculture
  • Announcement
  • Audience Survey Report
  • Business
  • Crime/Legal
  • Culture
  • Development
  • Disaster
  • Economy
  • Education
  • Entertainment
  • Environment
  • Feature
  • Featured
  • Festival
  • GMC
  • Headlines
  • Health
  • Legal
  • Literature
  • Livestock
  • Media
  • Other Stories
  • Politics
  • RCSC
  • Recent stories
  • Religion
  • Sci/Tech
  • Social
  • Sports
  • Technology
  • Tourism
  • Uncategorized
  • Video
  • Video Story
  • Wildlife
  • Contact Us
  • About BBS
  • Privacy & Policy

© 2024 BBSCL. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule

© 2024 BBSCL. All rights reserved.