Five money bills will be tabled for discussion during the upcoming winter parliament session
The session will deliberate on the Fiscal Incentives Bill 2021, Audited Annual Financial Statement for Financial Year 2020-21, Harmonized System Amendment Bill, which includes the Custom Duty (Amendment) Bill 2021, Tax (Amendment) Bill 2021, and the Goods and Services Tax (GST) (Amendment) Bill 2021.
The Ministry of Finance has proposed to the cabinet that these money bills be tabled in the forthcoming parliament session.
The ministry also proposed the Property Tax Bill; however, the cabinet has not approved the bill for submission to the forthcoming sixth session of the third parliament.
Finance Minister Namgay Tshering said that the money bills are submitted for minor amendment.
An official from the finance ministry said the ministry has proposed these money bills to be tabled in the forthcoming parliament session because the Fiscal Incentive Act of Bhutan 2017 will expire in December 2021.
The Finance Minister during the winter session last year tabled the Fiscal Incentives (Amendment) Bill 2020, extending the exemptions to December 31, 2021.
The official said that the Harmonized System Bill is proposed because the codes of the World Custom Organization change after every five years.
Meanwhile, the month-long sixth session will commence from November 24.
Dechen Dolkar from Thimphu
