The National Assembly endorsed the two new recommendations made by the National Council on the Property Ownership Transfer Tax Bill of Bhutan 2020 during the re-deliberation of the Bill today.
The National Council proposed exemption from payment of property transfer tax if a property(ies) is transferred to the Zhung Dratshang and if it’s transferred between members registered under the same census record.
The House of Review also proposed 10 more amendments on the Bill on the sections of preamble, title, commencement, Extent, levy of property transfer tax, payment of property transfer tax, Authoritative text and definitions.
The National Assembly deliberated on the amended recommendations and supported most of the amendments made by the National Council. The House endorsed the amendments from the National Council with 37 yes, 5 abstain, and 1 no out of 43 present and voting.
Choni Dema
