The Inland Revenue Authority of Singapore has announced the signing of an income tax treaty with Bhutan on 12 May 2026. The treaty is the first of its kind between the two countries. Notably, several articles of the treaty include separate provisions in relation to the broader territory of Bhutan and the territory of Gelephu Mindfulness City (GMC), which is an economic hub and special administrative region in Gelephu, Bhutan.
Taxes Covered
For the territory of Bhutan, excluding Gelephu Mi…