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House Adopts the Fiscal Incentives (Amendment) Bill of Bhutan 2020 and deliberates on the Property Tax Bill of Bhutan 2020

Posted on :12 February 2020

The House adopted the Fiscal Incentives (Amendment) Bill of Bhutan 2020 with majority votes.  Of the 22 members present with 21 “YES” and 1 “NO” votes, the House passed the Bill. The Bill along with the recommendations shall be forwarded to the National Assembly for re-deliberation.

The House deliberated on the recommendations submitted by the Economic Affairs Committee on the Fiscal Incentives (Amendment) Bill of Bhutan 2020 as directed by the House yesterday. The Committee recommended the Bill to commence as per the Section 46B of the Public Finance (Amendment) Act 2012 against the National Assembly’s amendment to commence retroactively from income year 2019. 

Subsequently, the House deliberated on the Property Tax Bill of Bill Bhutan 2020. In total the Bill consists of 3 chapters with 13 sections.

Members suggested additional recommendations and shared their concerns on some of the sections of the Bill. The House re-assigned the Economic Affairs Committee to prepare the Bill for final adoption and review the sections on which the members raised their concerns.

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