The Minister for Finance moved the motion for the adoption of the Agreement between the Kingdom of Bhutan and the Republic of Singapore for the Elimination of Double Taxation with Respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance today.

The Agreement aims to strengthen economic cooperation and enhance bilateral relations between Bhutan and Singapore by eliminating double taxation on income and preventing tax evasion and tax avoidance practices. The Agreement also seeks to facilitate trade, investment, and cross-border economic activities between the two countries through improved taxation cooperation and clarity on tax obligations.

The House adopted the Agreement with all 46 Members present and voting, voting in favour. The Agreement will be transmitted to the National Council as per the Rules of Procedure.