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Bhutan has regulated corporations since 1989, most recently under the Companies Act of 2000. [5] These regulations include taxation of corporate income. [5]: pp. 112–3, 120–1 As of 2011, Bhutan's Corporate Income Tax rate was 30 percent on net profits; in addition, the Business Income Tax was another 30 percent on net profits. [6] [7]
The Ministry of Home and Cultural Affairs (Dzongkha: ནང་སྲིད་ལྷན་ཁག་; Wylie: nang-srid lhan-khag; "Nangsi Lhenkhag") renamed as Ministry of Home Affairs [1] is the government ministry within the Lhengye Zhungtshog (Council of Ministers) which oversees law and order; the civil administration; immigration services; the issuance of citizenship documents, and other ...
Article 21 of the Constitution establishes a system of royal appointments for the High Court and Supreme Court, and sets forth the role of each level of administration. [ 2 ] The Chief Justice, an appointee of the King , sits for a five-year term and chairs the National Judicial Commission, a royal agency. [ 2 ] (
Public finance is backed by the Consolidated Fund, while the monetary system is the purview of the Central Bank. [6] [nb 1] 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.
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 ...
Bhutan remained isolated from the world until it had trouble controlling its monetary system, so the Central Bank of Bhutan was established. Bhutan's commercial bank, Bank of Bhutan, was established on 28 May 1968 [4] as a joint venture with the Chartered Bank of India, Australia and China, which owned 25% of the bank.
Ministry of Works and Human Settlement (Dzongkha: གཞི་རྟེན་མཁོ་ཆས་དང་སྐྱེལ་འདྲེན་་ལྷན་ཁག།; Wylie: gzhi rten mkho chas dang skyel 'dren lhan khag) renamed the Ministry of Infrastructure and Transport [1] is a ministry of Bhutan responsible for quality and sustainable infrastructure, efficient transportation services ...
Shabdrung Ngawang Namgyal instituted the Tsa Yig and the Cho-sid-nyi (dual system) in Bhutan. The Tsa Yig of Shabdrung Ngawang Namgyal laid down the dual system of government of Bhutan, a synthesis of spiritual and temporal authority. Central to the system was a spirit of perfect disinterestedness in the trappings of power.