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Bank of Bhutan recognised for good tax compliance

Finance: Contributing more than Nu 1.2B in taxes in the last five years, the Bank of Bhutan Limited (BoBL) was awarded with a certificate of recognition for good tax compliance records on Janaury 26 in Phuentsholing.

The amount of taxes it has paid also makes it one of the top taxpayers in the country,

Finance minister, Lyonpo Namgay Dorji awarded the certificate. The finance ministry has been awarding certificates to some of the country’s largest taxpayers who have shown “excellent” compliance, substantive business growth and revenue contribution.

A BoBL press release states that the bank over the years has demonstrated outstanding voluntary compliance maintaining 100 percent consistency in filling returns and timely remittances of due taxes as well as registering good growth in their revenue contribution.

BoBL’s CEO Pema Nadik, in the press release, said that the recognition stands testimony to the highest standards of corporate accountability and governance the bank adheres to.

The bank has a nationwide presence through 44 branch offices including extension offices and 62 automated teller machines (ATM) serving about 300,000 customers.

The bank’s business growth has been substantive with increasing revenue contribution, of about Nu 270M in 2013 and has also created employment opportunities every year, the press release states.

BoBL currently has 671 employees spread all over the country.

By Thinley Zangmo

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