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

generate and contribute substantial revenue and to further encourage the people
in cash crop cultivation, the government must explore and establish markets for
cash crops in the other neighbouring countries besides India and Bangladesh. It
was decided, therefore to retain the PIT on cash crops as proposed without any
change.
Referring to 6.3(b) under Article 6 on page 51, the BCCI representative
proposed that the 10% of the rental income for the purpose of repair and
maintenance cost be increased to 20%. The Assembly endorsed the proposal.
The Assembly added to article 12(c) on page 55 besides the actual expenditure
on education that an upper limit of Nu. 50,000 would be tax deductible.
The BCCI and Haa Chimis submitted that the PIT of 10% for incomes between
Nu. 100,000 and Nu. 200,000; 15% for Nu. 200,000 to Nu. 300,000; 20% for
Nu. 300,000 to Nu. 500,00 and 30% for Nu. 5,00,000 and above specified under
Article 14 on page 56 be reduced to a more appropriate level.
To this, the Finance Minister proposed that the following PIT rates be applied:
10% for incomes between Nu. 100,000 and 250,000; 15% for 250,000 to
Nu.500,000; 20% For Nu. 500,000 to 1000,000; and 25% for Nu. 1,000,000 and
above. This proposal was supported by most Chimis and it was endorsed as
such. The subsequent comments were editorial in nature and as there were no
other comments on the content of the Act, the National Assembly endorsed the
Income Tax of the Kingdom of Bhutan 2001.
XVII. Bill for Civil and Criminal Procedure Code
Towards the conclusion of the 78 th session of the National Assembly, the
Judiciary of Bhutan has submitted a draft of the Bill for Civil and Criminal
Procedure Code to all the members so that it could be passed in the current
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