BIT and CIT deadline deferred to June 30

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Business Income Tax (BIT) and Corporate Income Tax (CIT) filing for 2019 has been deferred until June 30. As if they knew it was coming, not many paid the CIT or the BIT although the deadline to file the tax ends on March 31, two working days from today.

Not a pretty picture

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Inflow of FDI brings capital and expertise into the country

FDI: One of the latest foreign direct investment (FDI) company in the country, AdrukA Pvt Ltd, provides import quality furniture and has employed 50 Bhutanese.

An investment guide to attract investors

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FDI: With the launch of the online “Investment guide (iGuide) to Bhutan” yesterday, investors – local and foreign alike - can now access information for setting up business at the click of a mouse.

Gov't yet to float DTH TV tender

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Media: The government is yet to float a tender inviting local companies or individuals interested in supplying DTH TV (direct-to-home television) to Bhutan.

Decision on domestic air services pending

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Aviation: It is yet to be determined which of the two airlines will operate domestic air services.

BPC loses Nu 3.3M in free electricity

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Power: The Bhutan Power corporation (BPC) bears a cost of about Nu 3.3M (million) for providing free rural electricity after the supply exceeded the requirement.

BBIN motor vehicle agreement signed

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Trade: A Bhutanese commercial truck should be able to transport locally grown fruits all the way to Dhaka and bring back goods like clothes starting some time next year, following the signing of the Bangladesh, Bhutan, India, and Nepal Motor Vehicle Agreement (BBIN MVA) in Thimphu, yesterday.

LNT agrees to procure Dragon cement

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Dungsam:  Dungsam Cement’s production may pick up now with the biggest cement consumer in hydropower construction, Larsen and Toubro (LNT) agreeing to procure the Dragon cement.

Drukair and Dungsam Cement in the red

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DHI: When faced with competition from the private sector, it’s difficult for public sector companies to perform, the Druk Holding and Investment’s (DHI) chairman, Dasho Sangay Khandu, said, referring to Bhutan Telecom and Drukair.

ADB to release USD 36.2M in two phases

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Agreement: The Asian Development Bank (ADB) will release USD 36.2M (million) to strengthen the Bhutanese economy in the fiscal year 2015-16.

DHI contributes 5.35 billion to govt. coffer in 2014

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Business: Although the Druk Holding and Investments’ (DHI) contribution to the government coffer in the form of dividend and taxes increased by Nu 220M to Nu 5.35B last year, many of its cash cow companies’ did not perform well.

Regional land transport agreement to be signed today

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Connectivity: In what should transform the way travel and trade is conducted in the region, the Bangladesh, Bhutan, India, and Nepal (BBIN) Motor Vehicle Agreement (MVA) will be signed by the transport ministers of the four countries in Thimphu today.

Directive on LPG cylinders leaves depots vacant

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LPG: The department of trade’s letter asking the Indian Oil Corporation Limited (IOCL) to not refill expired LPG cylinders from Bhutanese dealers has left the depots in Phuentsholing with no LPG cylinders to issue.