BIT: BIT is a non-corporate business tax. It is levied @ of 30% on net profit. BIT is payable by all unincorporated business entities holding a trade license or registration certificate issued by the Ministry of Economic Affairs (MoEA). CIT: CIT is a corporation tax. It is levied @ of 30% on net profit. CIT is payable by those entities registered under the Company’s Act of the Kingdom of Bhutan, 2000. BIT/CIT Registration: Every business or company must register with the Regional Revenue & Customs Office (RRCO) from where the trade license or permit is issued or wherever the Head office is located within 3 months from the date of obtaining such trade license or permit. Tax Filing: Every business or company must file the tax returns (FORM BIT-2 for BIT payers and FORM CIT-2 for CIT payers), on a self assessed basis to the RRCO of registration before 31st March following the end of the income year. Taxpayer Number (TPN): TPN is a system generated alpha numeric number allotted to the taxpayers by the RRCO at the time of registration. It is issued in order to identify all tax transactions relating to a particular tax entity. TPN must be quoted as a reference in all the correspondences with the department to identify the taxpayer.

Vacancy Announcement for the post of Project Manager and Monitoring and Evaluation Expert

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