The National Assembly today conducted the Third Reading 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.

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.

During the deliberation, the House reviewed provisions related to persons and taxes covered under the Agreement, definitions of contracting states, taxation jurisdictions, and the responsibilities of competent authorities of both countries. The Agreement also includes provisions to prevent misuse of tax benefits and treaty-shopping arrangements.

The House further deliberated on amendments made in the Dzongkha text to ensure consistency with the English version of the Agreement. The House endorsed all the recommendations made by the Committee without any changes and the Agreement will be put to vote on 1 June 2026.