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.

Inflation remains below 3.5 percent until November 2018

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The price of goods and services between November 2017 and November…

Electricity export earns Nu 10B

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The five operational hydropower plants in the country have generated…

DPL shares oversubscribed in the rights auction

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Despite suffering losses for the sixth consecutive year, the…

Record low inflation expected this year

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Should the current inflationary trend continue for the last two…

DPL in distress, resorts to rights issue

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Dungsam Polymer Limited (DPL) is encountering serious cash flow…

National revenue records 24 percent growth

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The fiscal year 2017-18 saw significant growth in national revenue…

GST imposition on cardamom export to India affects price

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Bhutanese exporting cardamoms to India are desperate for a government intervention. After the Goods and Services Tax (GST) impose since July 1 last year, Indian customs offices have implemented the computerised system called ICEGATE in Indian towns that share a border with Bhutan and are significant trade links.

Rupee reserve at INR 20B

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The country’s international reserve position as of August this year was at USD 1.1B, of which the rupee reserve forms Rs 20.5B. Convertible currency reserve was at USD 817M. The rupee reserve in the beginning of the year was Rs 23B, the highest in 2018. In the following month of February, it fell to Rs 17B and dipped to Rs 11B in April, which gradually picked up. This is according to the Royal Monetary Authority’s (RMA) recent monthly statistical bulletin.

GDP growth drops to 4.6 percent in 2017

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Against a higher projection and the-so-claimed “robust performance”, the country’s economy recorded a growth of 4.63 percent in 2017, a decrease of 3.39 percentage points compared with that of 2016.

USD hits record high at Nu 73

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Indian rupee (INR) has been sliding against the USD in recent months and Bhutanese ngultrum, because it is pegged to INR, is under pressure. Losing 12 percent this year, INR is labelled by the Bloomberg as Asia’s worst performing currency.

Forex counters at airport accrue USD 2M in a year 

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The Royal Monetary Authority (RMA) has collected USD one million…

Four companies raised Nu 2.77B from commercial papers

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Since the introduction of commercial papers in 2017, four incorporated…