Search results
Results from the WOW.Com Content Network
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.
Under the Sales Tax Act, the Ministry of Finance may also exempt any other person from sales, customs, and excise taxes at its discretion. [3]: I § 3, II § 5, III § 2 Organizations exempt from customs duties must still pay sales tax when importing goods into Bhutan, however. [3]: I § 3.3
The Royal Government of Bhutan established the Development Ministry in 1968, which was a precursor to the institution of the Department of Foreign Affairs in 1970 and subsequent up gradation to a full-fledged ministry in 1972. [2] As of right now, Bhutan maintains diplomatic ties with 54 nations, including the EU.
He was elected to the National Assembly of Bhutan in the 2018 elections for the Dokar-Sharpa constituency. [5] He received 4,155 votes and defeated Chencho Dorji, a candidate of Druk Phuensum Tshogpa. [6] On 3 November, Lotay Tshering formally announced his cabinet structure, and Namgay Tshering was named as the Minister for Finance. [7]
Prior to the establishment of the RMA in 1982, functions relating to central banking were conducted principally by three agencies viz., the Ministry of Finance, State Trading Corporation of Bhutan and Bank of Bhutan. The Ministry of Finance was the currency issuer of Ngultrum (the Bhutanese currency) and had printed and issued the first ...
Ministry of Economic Affairs (Dzongkha: བཟོ་གྲྭ་ཚོང་འབྲེལ་དང་ལཱ་གཡོག་ལྷན་ཁག།; Wylie: bzo grwa tshong 'brel dang lཱ gyog lhan khag) renamed the Ministry of Industry, Commerce and Employment (MoICE) is ministry of Bhutan responsible for proper management of economy, productive employment and promotion of private sectors in ...
The owners of Bank of Bhutan are Druk Holding & Investments Ltd. , which owns 80% of the authorized capital, and the State Bank of India, which accounts for 20% of the capital. [9] Until 2007, the Bank was operated by the Ministry of Finance of Bhutan. It is managed by Druk Holding & Investments, which also manages other public sector companies.
Bhutan was the first country to recognize Indian independence and renewed the age old treaty with the new government in 1949, including a clause that India would assist Bhutan in foreign relations. On 8 February 2007, the Indo-Bhutan Friendship Treaty [ 12 ] was substantially revised under the Bhutanese King, Jigme Khesar Namgyel Wangchuck .