Bank of Bhutan gets a certificate of recognition
The oldest and largest bank, Bank of Bhutan Limited (BOBL) was recently awarded a certificate of recognition for good tax compliance records by the Department of Revenue and Customs under the Ministry of Finance.
The certificate was awarded to some of the nation’s largest taxpayers who have demonstrated excellent compliance, substantive business growth and revenue contribution. The certificates were awarded by Finance Minister, Lyonpo Namgay Dorji on January 26 at simple ceremony in Phuentsholing.
BOBL over the years has demonstrated outstanding voluntary compliance maintaining 100 percent consistency in filling returns and timely remittances of due taxes as well as registering good growth in their revenue contribution. The bank contributed over Nu.1.2 billion in taxes to the government in the last 5 years making it one of the top taxpayers in the kingdom. The bank has nationwide presence through 44 branch offices (including extension offices) and 62 ATMs, serving about 300,000 customers.
The bank’s business growth has been substantive with increasing revenue contribution (Nu 270M in 2013) and has also created employment opportunities for many every year. There is at present 671 employees spread all over the country.
“The recognition stands testimony to highest standards of corporate accountability and governance the bank adheres to,” CEO, BOBL.