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Bhutan's
Economy |
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BHUTAN
Statistics
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National
Revenue - Contributors 2005/06
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Trade
outdid electricity as the highest contributor to the national revenue in
the 2005-06 fiscal year, according to the national revenue report.
The
trade sector contributed Nu. 2,276 million or 32.6 percent as against Nu.
2,214 million contributed by the electricity sector or 31.7 percent of
the national revenue which totaled Nu. 6,903 million according to the report.
The
trade sector's high contribution was mainly brought about by the receipt
of outstanding excise duty refund from India amounting to Nu. 513 million. |
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Despite
falling behind the trade sector, the contribution of the electricity sector
to the national revenue was higher than last year because of the increase
in the power tariff rates of the Chukha Hydro Power Corporation Limited
(CHPCL) and increased remittances from Basochu Hydro power Corporation
Limited.
With
increased collection from tourism royalty, lottery, telecom services and
motor insurance tax enabled the service sector to come third with a contribution
of Nu. 1,431 million.
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The
finance sector contributed about Nu. 509 million an increase of about 41
percent mainly because of the improved performances of the Royal Monetary
Authority, Bhutan national Bank Limited and Royal Insurance Corporation
Limited.
The
contribution of the manufacturing sector saw a nominal increase with Nu.
268 million on account of increased receipts from the Bhutan Board Products
Limited as corporate tax and dividends. |
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The
primary sector, which covers forestry, mining and agriculture, contributed
Nu. 137 million with an increase in royalty from mining and sale proceeds
of agriculture products.
Among
different agencies, there weren't any surprises with the CHPCL contributing
the highest of Nu. 2,093 million or 30.01 percent of the national revenue.
The second highest contributor, RMA, was way behind with Nu. 315 million.
The
list was followed by tourism department with Nu. 314 million, Department
of Lottery Nu. 143 million and the Penden Cement with Nu.132 million.
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Regionwise,
Phuentsholing contributed the highest taxes with Nu. 3,621 million, Thimphu
with Nu. 2,568 million, Samdrup Jongkhar with Nu. 289 million, Samtse Nu.
269 million, Gelephu Nu. 126 million and Paro contributed the lowest with
Nu. 101 million.
Contributions
from different private sector excluding joint public sector corporations
amounted to Nu. 444 million, a decline by Nu. 59 million as compared with
last year. The decline is attributed to a decrease in collection of TDS
on contractors, tax holidays and incentives.
The
Tashi Commercial corporation led the list of private contributers to the
national revenue with Nu. 36 million followed by the Bhutan chemical and
carbide with Nu. 24 million, Druk Satair with Nu. 15 million and the Eastern
Bhutan Coal Company Limited with Nu. 14 million. |
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The
top ten also includes the Yarab Private Limited, Lhaki Cement, Yuendrung
Construction, Bhutan Food products Limited, Bhutan Polymers and the Singye
Group of Companies.
Contributions
from the top ten private was Nu. 112 million, an increase of Nu. 33 million
from last year.
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This
article was contributed by Tashi Dorji KUENSEL, Bhutan's National
Newspaper, 2006 |
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