English | Dzongkha Friday, September 25, 2020

Allowable deduction for education expenses increased to Nu 350,000

Feb 15, 2020

The National Assembly endorsed the recommendation to increase the allowable deduction for education expenses for students from Nu 150,000 to Nu 350,000 yesterday. It means only education expenses exceeding Nu 350,000 will be taxed.

The recommendation on Income Tax Amendment Bill of Bhutan 2020 had been put forward for re-deliberation by the National Council. Of the 44 members present, 36 voted in favour of the recommendation. However, the five other recommendations made by the House of Review on the Bill which includes increasing the income tax rate for companies other than State-Owned Enterprises and revising the Personal Income Tax slabs were rejected by the House.

Sangay Chezom

Leave a Reply

9 − six =

Copyright © 2020 BBSC.