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

Finance minister announces review of tax exemption threshold

March 6, 2025
in Economy, Other Stories
Reading Time: 2 mins read
0
0
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

With rising salaries pushing more people into the taxable income bracket, the finance ministry is reviewing the personal income tax exemption threshold. The review aims to ease the tax burden, particularly for lower and lower-middle-income salaried employees. The finance minister shared this during today’s “Meet the Press” session.

During the session, Finance Minister Lekey Dorji said that the current tax exemption limit, which was last updated in 2020, is now under review as part of a broader reassessment of the country’s taxation system. The ministry’s goal? To strike a balance between generating the necessary revenue and maintaining fairness, especially for middle- and low-income earners.

“Any potential revision will consider multiple factors, including the need to ensure a fair and equitable tax system, maintain tax compliance, and broaden the tax base while minimising the burden on salaried individuals, particularly middle-income and low-income earners.”

The finance minister added that, if found necessary, the revision will be a money bill that needs to be tabled in the Parliament. However, if changes are made, he said that they will be done with careful consideration of economic growth, tax compliance, and the broader impact on both the economy and individuals’ pockets.

“Any proposed changes will be carefully assessed for their fiscal implications and overall impact on taxpayers. As per the established protocol, the public will be informed in due course of any revisions or policy decisions arising from this review.”

The discussion comes at a time when wage reforms, such as the 2023 Pay Revision Bill, have led to salary increases for civil servants and state-owned enterprises.

While higher pay is welcome, there are concerns that rising taxes could reduce the benefits of the pay raise. As more employees enter the taxable income bracket, it leaves the government to find a balance between generating necessary revenue and avoiding excessive tax burdens.

Karma Samten Wangda

Edited by Sonam Pem

Previous Post

Cabinet approves 50% reduction on internet charges

Next Post

Government tightens import regulations to prevent smartphone tax-free misuse

Next Post
Government tightens import regulations to prevent smartphone tax-free misuse

Government tightens import regulations to prevent smartphone tax-free misuse

Government’s “Rent to Own” housing programme takes shape with draft proposal

Government's "Rent to Own" housing programme takes shape with draft proposal

Villagers urge authorities to improve Bjagphu farm road

Villagers urge authorities to improve Bjagphu farm road

RECOMMENDED NEWS

US Department of State recognises Lt. Col Karma Rigzin for her leadership role to combat trafficking

US Department of State recognises Lt. Col Karma Rigzin for her leadership role to combat trafficking

5 years ago
55
TCB and its Thai counterpart collaborate to strengthen tourism

TCB and its Thai counterpart collaborate to strengthen tourism

7 years ago
2

India’s MP meets Chief Advisor of Interim Government

12 years ago
1

Dasho Dr. Sonam Kinga elected NC Chairperson

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 (277)
  • Education (412)
  • Entertainment (13)
  • Environment (60)
  • Feature (65)
  • Featured (6)
  • Festival (78)
  • GMC (14)
  • Headlines (6)
  • 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 (515)
  • 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

  • RMA to roll out seven new measures for loan repayment support
  • National Housing Strategy to be ready by September
  • Bhutan begins NFT sales, to preserve heritage
  • City bus viability raised in parliament, MoIT minister cites past privatisation failures
  • Paro MP questions airport expansion impact on affected landowners

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.