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Government introduces Bill Discounting Facility to expedite contractor payments

Government introduces Bill Discounting Facility to expedite contractor payments

Contractors working on government projects can expect to receive their payments on time. The financial institutions introduced a new service, the Bill Discounting Facility today. This service is designed to expedite payments to contractors who usually experience delays in receiving payment upon completion of their work due to prolonged processes. However, with this facility, contractors will be able to present...

Dagana’s Narikhachhu irrigation scheme renovation to boost paddy production

Dagana’s Narikhachhu irrigation scheme renovation to boost paddy production

Farmers from Thomgang and Akhochen chiwogs in Khebisa Gewog, Dagana, can look forward to a reliable irrigation water supply for the upcoming paddy transplantation season. This is because Dagana District Administration is renovating the Narikhachhu irrigation scheme. The previous system faced significant challenges, including leakages and disruptions caused by falling boulders, leading to acute water shortages.  Construction of a 57-cubic-meter...

DRC’s new tax intermediary pilot programme receives positive feedback

DRC’s new tax intermediary pilot programme receives positive feedback

The tax season has begun and over 300 businesses in Thimphu have already filed their Business Income Tax through tax intermediaries. Launched as a pilot project last year, the initiative is gaining positive feedback from taxpayers. By streamlining the process, tax intermediaries have made filing more accessible and efficient for taxpayers. The Department of Revenue and Customs trained 90 tax...

GMC to include Bitcoin and other digital assets in strategic reserves

GMC to include Bitcoin and other digital assets in strategic reserves

Gelephu Mindfulness City, GMC, has announced plans to adopt digital assets such as Bitcoin, Ethereum, and Binance Coin in its strategic reserves. According to a GMC social media post, the move makes the Special Administrative Region one of the first jurisdictions globally to officially hold digital assets as reserves. Strategic reserves refer to assets or resources set aside to ensure...

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