1 TRANSLATION OF THE PROCEEDINGS AND ... - APFA News

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The Minister stressed that the PIT is not in any way a burden that is beyond on individual’s capacity and urged that the Assembly endorse Nu. 100,000 as the tax exemption level. As there were no further objections raised by anyone it was decided that the PIT exemption level would be maintained at Nu 100,000 without any change. With reference to (b), (c) and (d) under 4.2 of article 4 on page 44, the BCCI representative pointed out that tax on income from real property, dividends and interest is also reflected in the corporate and business taxes and queried why these incomes were taxed doubly. In response, the Finance Minister said that as mentioned earlier the main purpose of taxation is not to generate revenue for the government but to ensure a more equitable distribution of wealth amongst the people. Therefore, tax on dividends will only be applicable to the wealthier people who have shares in the big companies and not on those who cannot afford to buy shares. This system is not exceptional to Bhutan but is applied everywhere in the world. The Minister also informed the Assembly that tax on the company and the shareholders have been differentiated and income tax is levied differentially as it is the universal practice for the company not to bear the entire brunt in case the company runs into problems. Although corporate taxes are prevalent everywhere in the world, the dividends are not considered important in view of its smallness in size. However, in Bhutan as some of the shareholders in some companies earn dividends up to 100 to 150% it amount to a substantial sum of money. Therefore, if PIT is not levied on the dividends received by these shareholders, it does not make much difference to levy PIT on low-income businesses. 220
Therefore, it is important that PIT is levied on all incomes from dividends, interest, cash crops etc. unless the incomes earned are small. As there were no further objections raised to the submission of the Minister, the point questioned by the BCCI Chimi was left unchanged. Referring to 4.2 under article 4 on page 49, the Chukha Chimi submitted that as cash crop cultivation in the country is in the process of picking up momentum and cash crop trade and business has not yet been well established, income from cash crops may be considered for tax exemption. In support to this submission, some Chimis also said that cash crop is a growing activity which is not yet well established and furthermore there are some families who do not have other agriculture lands and rely completely on cash crops for their sustenance. Moreover in an agricultural country like Bhutan tax on income from such agricultural activities would greatly discourage the people. It was suggested that PIT on cash crops be delayed to such a time that cash cultivation is well developed. In contradiction most of the other Chimis, expressed that just as a father will not give poison to his son, the Royal Government will also not prepare an Act that would be harmful to the people. If such an Act is not put in place now, it would only result in problems later. In addition, all the development initiatives in the country have to be undertaken with assistance from donor countries and delay in programme implementation due to financial assistance not coming through on time has been known to happen. Therefore if the requirements can be met domestically such obstacles and constraints would not arise. Furthermore, in the present age of global change, it is of great importance that our country becomes self-reliant. It is, therefore, necessary that the taxes which have been considered and proposed by the government be implemented and concerted efforts are made to make the country self-reliant. In this context, it is relevant that tax be paid on income from cash crops. Based on cash crops, people can 221
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I. Inaugural Ceremony TRANSLATION O
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The National Assembly ratified seve
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allot. A brief curriculum vitae of
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Sonam Wangchuk from Zhemgang won th
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Bodo militants in the country pose
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Goendeys in the country continue to
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1. The military capability of the a
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ate is 4.5%, and the balance of pay
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of the Basochhu Hydropower Project
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3. The Department of Education has
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As Gross National Happiness places
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Since people-centred development li
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Recognizing the deep reverence that
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conference. This is an indication o
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safeguard the sovereignty of the co
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They also expressed their profound
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ooklet on the financial report of Y
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Nu.260 million was spent on purchas
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Nu.381 million increase in the budg
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would be incurred. Although the cur
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udget presentation by the Hon’ble
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The fact that the debt service rati
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the territories of Assam and Bengal
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Since many of the plan projects cou
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issue of the Thimphu-Phuntsholing h
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the Department should ensure that t
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Sarpang Dzongkhag. He extended the
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The Speaker underlined the signific
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Kuensel and the Bhutan Broadcasting
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The Hon’ble Minister for Health a
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A Royal Advisory Councillor and the
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The Speaker noted that the governme
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failed to resolve the problem, ther
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serious resentment and animosity be
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The NDFB militants are fighting the
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affected the security of the countr
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The ULFA delegation said that they
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again to find a solution to the pro
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led by the Home Minister and the UL
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epresent a government since they ar
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Bhutanese people. Last December, wi
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ii. Two rounds of Security Coordina
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undergone militia training and serv
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left but to resort to military acti
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shops. In such situations, the loca
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would be better to act in accordanc
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He informed the members that, under
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and working to this end without eve
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security of the nation is of the ut
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however, be in our interest to endo
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agreement signed with the Royal Gov
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there was no longer any conscriptio
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genuine volunteers should be forwar
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the time to make excuses regarding
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militia force, and after returning
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The people’s representatives of T
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They wondered where all the organiz
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faction which does not have camps i
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pressing on this issue, the problem
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informed the house the Lhengyel Zhu
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apprehended and brought to justice.
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The Foreign Minister informed the h
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this regard, the Royal Government w
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who left after committing terrorist
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and the agreement reached by Bhutan
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2. The hon’ble members are aware
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verification provides ample time an
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In his presentation on the issue, t
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deliberately trying to delay the pa
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obbery and destruction of service i
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emain in the country. These people
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The people in the camps in Nepal co
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during the 14 th round, Bhutan had
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abide by the resolutions of the Nat
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However, it is most important that
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effective treatment or vaccine, and
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The Secretary also pointed out that
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supervision and guidance. The Assem
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local Forest Office. This takes abo
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4. To enhance sustainable use of fo
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For conifer species, Nu.40 per tree
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per truckload. Further, in order to
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A Royal Advisory Councillor said th
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workforce were reduced, the Bhutane
Page 169 and 170: issue. Furthermore, the Cabinet has
Page 171 and 172: numbering about 60,000 and coming t
Page 173 and 174: proposing the issue of the expatria
Page 175 and 176: Penden Cement Plants are Bhutanese.
Page 177 and 178: the government offices take the nat
Page 179 and 180: Punakha Chimi those people on whom
Page 181 and 182: the competence of the Bhutanese in
Page 183 and 184: are private sector candidates who r
Page 185 and 186: aspects and those who are unable to
Page 187 and 188: Jabmi. It would be beneficial if th
Page 189 and 190: fees for Jabmis would not be approp
Page 191 and 192: their decisions should be given due
Page 193 and 194: material inducements to innocent vi
Page 195 and 196: Another Chimi from Samtse Dzongkhag
Page 197 and 198: It is the responsibility of the Gup
Page 199 and 200: The Dorji Lopen of the Central Monk
Page 201 and 202: The Minister expressed appreciation
Page 203 and 204: Zhungtshog to direct the Government
Page 205 and 206: The Minister pointed out that Part
Page 207 and 208: Among many other provisions, the ac
Page 209 and 210: flourishes. A strong and clear Chat
Page 211 and 212: The Minister informed the Assembly
Page 213 and 214: In Article 12 of Chapter 4 on page
Page 215 and 216: Therefore, it is being submitted to
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Page 223 and 224: session. Moreover, a revised copy o
Page 225 and 226: The rule of law is a basic requirem
Page 227 and 228: country depend upon the presence of
Page 229 and 230: The National Assembly has the full
Page 231 and 232: The Punakha Chimi also commented on
Page 233 and 234: A lot of good experience has been g
Page 235 and 236: meat in the country should decrease
Page 237 and 238: therefore face lots of difficulties
Page 239 and 240: If two or three Chathrims rather th
Page 241 and 242: XX. Expression of Appreciation and
Page 243 and 244: tourists and other non-governmental
Page 245 and 246: people of different geogs to identi
Page 247 and 248: gained by the members of the DYT an
Page 249 and 250: of the Kurichu Hydro Power Project.
Page 251 and 252: institutes besides centers of Buddh
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Page 255 and 256: promotion of the national language.
Page 257 and 258: those belonging to neighbouring Dzo
Page 259 and 260: secondly due to the concerted effor
Page 261 and 262: of a child, the Hon’ble chairman
Page 263 and 264: order to avoid problems related to
Page 265 and 266: Of the five killed, four were fores
Page 267 and 268: and sorrow at the incident. He said
Page 269 and 270: Among the dead in the recent incide
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greatly undermine the friendship an
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confidence and appreciation of the
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teachings of the Buddha to flourish
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opportunities and challenges associ
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3. Grants a. GoI Program Grants 800
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While there was a substantial incre
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would continue to monitor the size
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The Royal Government will, as annou
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power tariff for the rural consumer
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The domestic revenue forecast for t
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Customs duties on yarn have been ab
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The Royal Government continues to a
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The Royal Government is, therefore,
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The Ministry of Finance will study
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climate for private sector developm
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4. Gross International Millions of
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