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National revenue Contributors 05/06
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National Revenue - Contributors 2005/06
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.

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.

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.

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.

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.

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.

This article was contributed by Tashi Dorji KUENSEL, Bhutan's National Newspaper, 2006
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