Bhutan to Defer GST Implementation a Further Two Years

The National Assembly of Bhutan has announced the tabling of the Goods and Services Tax (Amendment) Bill of Bhutan 2022 for the first and second readings on 8 June 2022. The bill provides for the deferral of the implementation of the new GST as provided by the Goods and Services Tax Act of Bhutan 2020 from 1 July 2022 to 1 July 2022, considering the unfavorable economic situation of the country and the operational readiness of the IT system (Bhutan Integrated Taxation System). The implementation of the new GST was previously deferred from 1 July 2021 to 1 July 2022. According to the release, the bill was referred to the Legislative Committee for further review, which is scheduled to report its findings on 20 June 2022.