Close to 30,000 vehicle ownership transfers were completed in the last seven months. 31st July was the last date. The Bhutan Construction and Transport Authority will now start monitoring compliance.
Surprise inspections will now take place, during which vehicle ownership records may be verified.
As per the rules, vehicle ownership must be transferred within 15 calendar days from the date of sale or transfer. Failure to do so will result in a penalty of 100 ngultrum per day. However, using a vehicle belonging to a family member, relative, or friend does not constitute a violation. Similarly, borrowing or renting a vehicle will not be subject to enforcement action.
The new rule specifies the penalty. Until now, the lack of it resulted in low compliance.
The need to pay one per cent of the depreciated value of the vehicle or the sale deed value as transfer tax was another issue. It discouraged people from promptly transferring the ownership.
Today, the initiative has significantly improved the accuracy of ownership records and encouraged higher compliance among vehicle owners.
There are more than 130,000 registered vehicles in the country. But the authority says it cannot determine how many vehicles are still being used by people other than their registered owners.
Sonam Yuden
Edited by Tandin Phuntsho
