- Bhutan officially launched the Goods and Services Tax (GST) to modernize its taxation system and strengthen domestic revenue.
- Essential goods and services, as well as key sectors like health and education, are exempt to protect ordinary families and minimize citizen impact.
- A Nu 5 million threshold exempts the smallest businesses from GST compliance, ensuring fairness and administrative efficiency.
- GST aims to boost long-term economic resilience, reduce reliance on external funding, and encourage formalization and competitiveness in the private sector.
- Only registered businesses can charge the 5% GST, and proper invoicing is required to ensure compliance and efficiency.
Source: kuenselonline.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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