Fiscal Incentives Act of Bhutan 2021, ICT sector and IT park indirect tax incentives
In forceEffective 2021-11-29 · Applies to private
Rule 95, implementing section 50 (ICT sector) of the Fiscal Incentives Act of Bhutan 2021, grants a Sales Tax and Customs Duty exemption on plant and machinery, construction material, and ICT tools and equipment for an IT service provider such as a software development entity, business process outsourcing operation, multi-system operator, or cable operator, conditioned on a recommendation letter from the Ministry of Information and Communications and on the imported items matching the licensed business activity.
The exemption does not apply to a telecommunications business.
Rule 96 separately grants the same exemption to an IT park developer, covering plant and machinery for developing the IT park's infrastructure, construction materials that are a direct input to that development, and capital goods that are a direct input for IT and IT-enabled-services companies within the park such as air conditioning and firefighting equipment, conditioned on a Ministry of Information and Communications recommendation letter and on submitting a bill of quantities to the Department of Revenue and Customs.
Source: Full text of law