The revenue from Personal Income Tax increased by nearly one billion ngultrum this time. As of March this year, more than 70,000 taxpayers have filed their Personal Income Tax.
As of 31st March, the total personal income tax revenue for the income year 2024 amounts to Nu 2.9bn.
In 2023, it was Nu 2bn and almost the same amount in 2022.
The total collection is going to increase further since more than 3000 have not filed their personal income tax yet.
According to the Department of Revenue and Customs Office, late filers will have to pay a late fee of Nu 100 per day. And an additional 24 per cent penal interest on the amount of tax due for late payment.
The last day to file the personal income tax was the 28th of February.
Sangay Chozom
