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

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Source of Revenue Amount Percent A. Tax Revenue 2,475.439 53.66 1. Direct Tax 1,512.095 32.78 Corporate Income Tax 939.174 20.36 Business Income Tax 201.650 4.37 Salary Tax 62.000 1.34 Health Contribution 21.630 0.47 Royalties 278.966 6.05 Rural Tax 8.670 0.19 2. Indirect Tax 963.344 20.88 Bhutan Sales Tax 330.377 7.16 Export Tax 12.666 0.27 Excise Duty 458.820 9.95 Motor Vehicle Tax 59.860 1.30 Import Duty 78.375 1.70 Business & Prof. Licenses 8.428 0.18 Other Tax Revenue 14.818 0.32 B. Non-Tax Revenue 2,137.832 46.34 Transfer of Profits 438.435 9.50 Dividends 1,258.607 27.28 Admin. Fees and Charges 64.156 1.39 Capital Revenue 37.660 0.82 Revenue from Govt. Divisions 334 .469 7.25 Other Non-Tax Revenue 4.505 0.10 Total 4,613.271 100.00 288
The domestic revenue forecast for the 2001-2001 financial year stands at Nu. 4,613.271 million. Tax revenue accounts for Nu. 2,475.439 million (54 percent) of the domestically generated revenue. As evident in the forecast table above, most of the revenue is dependent on corporate income tax and other non-tax sources. As the honourable members may already be aware, the rural people who constitute 80 percent of the population contribute less than one percent of the total revenue. At the same time, the Bhutanese people continue to enjoy free or highly subsidized access to a wide range of services. The Royal Government has been able to support such generous welfare programs largely due to the kind support we have received from our development partners and the effective utilization of their assistance by the Royal Government. However, we cannot continue to be dependent on external assistance indefinitely. It is important that we work towards our goal of attaining self reliance and reduce our dependency on external assistance. In this regard it is vital that we continue to strengthen our economy and expand our revenue base by broadening the tax base and streamlining the tax system to ensure its efficiency and effectiveness. As the honourable members may recall, the Ministry of Finance raised the issue of the Personal Income Tax in the last session of the National Assembly. We would like to take this opportunity to reiterate that such taxes are important at this stage of development not only to expand the revenue base but also to ensure that the income gap between the rich and poor do not widen considerably. For a small developing country like ours, social cohesion and harmony, through equitable development, are essential in fostering citizen solidarity and national security. Experiences in many countries in the world have shown that a fast pace of development and change can create social discontent and instability due to widening income gaps. Therefore, the need to ensure equity, a basic social tenet, is more relevant to Bhutan today than ever before. 289
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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
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issue. Furthermore, the Cabinet has
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numbering about 60,000 and coming t
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proposing the issue of the expatria
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Penden Cement Plants are Bhutanese.
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the government offices take the nat
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Punakha Chimi those people on whom
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the competence of the Bhutanese in
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are private sector candidates who r
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aspects and those who are unable to
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Jabmi. It would be beneficial if th
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fees for Jabmis would not be approp
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their decisions should be given due
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material inducements to innocent vi
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Another Chimi from Samtse Dzongkhag
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It is the responsibility of the Gup
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The Dorji Lopen of the Central Monk
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The Minister expressed appreciation
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Zhungtshog to direct the Government
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The Minister pointed out that Part
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Among many other provisions, the ac
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flourishes. A strong and clear Chat
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The Minister informed the Assembly
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In Article 12 of Chapter 4 on page
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Therefore, it is being submitted to
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high taxes, and those with low inco
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and in the interest of the poor, it
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Therefore, it is important that PIT
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session. Moreover, a revised copy o
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The rule of law is a basic requirem
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country depend upon the presence of
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The National Assembly has the full
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The Punakha Chimi also commented on
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A lot of good experience has been g
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meat in the country should decrease
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Page 241 and 242: XX. Expression of Appreciation and
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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 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
Page 271 and 272: greatly undermine the friendship an
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Page 279 and 280: 3. Grants a. GoI Program Grants 800
Page 281 and 282: While there was a substantial incre
Page 283 and 284: would continue to monitor the size
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Page 287: power tariff for the rural consumer
Page 291 and 292: Customs duties on yarn have been ab
Page 293 and 294: The Royal Government continues to a
Page 295 and 296: The Royal Government is, therefore,
Page 297 and 298: The Ministry of Finance will study
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Page 301 and 302: 4. Gross International Millions of
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