According to recent reports, the National Council of Bhutan (upper house of Parliament) approved the pending income tax treaty with Singapore on 10 June 2026, following its approval by the National Assembly (lower house) on 29 May 2026. The treaty, signed 12 May 2026, is the first of its kind between the two countries. It will enter into force once the ratification instruments are exchanged and will apply in respect of withholding taxes from 1 January of the year following its entry into forc…