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The Bhutanese government enacted major reforms to the tax structure in 1989 and again in 1992. The reforms of 1989 included Bhutan's first business income tax, replacing its previous 2% turnover tax; abolishing export and nuisance taxes; and exempting plant machinery from sales and import duties.
Bhutanese legislation is created by the bicameral Parliament of Bhutan.Either the Monarch Druk Gyalpo or the non-partisan house National Council or the seat of the Government National Assembly may admit bills into Parliament to be passed as acts, with the exception of money and financial bills, which are the sole purview of the National Assembly.
Ministry of Agriculture and Forests (Dzongkha: སོ་ནམ་དང་སྒོ་ནོར་ལྷན་ཁག། Wylie: so nam dang sgo nor lhan khag) renamed as Ministry of Agriculture and Livestock (MOAL) is the ministry of Bhutan responsible to ensure sustainable social and economic well-being of the Bhutanese people through adequate access to food and natural resources.
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Agriculture in Bhutan has a dominant role in the Bhutan's economy. In 2000, agriculture accounted for 35.9% of GDP of the nation. [1] The share of the agricultural sector in GDP declined from approximately 55% in 1985 to 33% in 2003. Despite this, agriculture remains the primary source of livelihood for the majority of the population. [2]
Ministry of Finance (Dzongkha: དངུལ་རྩིས་ལྷན་ཁག།; Wylie: dngul rtsis lhan khag) is a ministry of Bhutan is responsible to steer and sustain a robust economy through a dynamic fiscal policy and strong culture of fiscal discipline.
Bhutan's hydropower potential and its attraction for tourists are key resources. The Bhutanese Government has made some progress in expanding the nation's productive base and improving social welfare. In 2010, Bhutan became the first country in the world to ban smoking and the selling of tobacco. In order to stamp out cross-border smuggling ...