Bhutan Tax Tables 2024 - Tax Rates and Thresholds in Bhutan
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This page contains the tax table information used for the calculation of tax and payroll deductions in Bhutan in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ BT, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Bhutan or would like to add to or suggest amendments to the information herein then please contact us.
2024 Tax Tables [Quick Links]
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Bhutan Personal Income Tax Tables in 2024
The Income tax rates and personal allowances in Bhutan are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Bhutan Tax Calculator 2024.
Bhutan Residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 0% | Income from Nu 0.000.00 | to | Nu 200,000.00 |
| 10% | Income from Nu 200,000.01 | to | Nu 250,000.00 |
| 15% | Income from Nu 250,000.01 | to | Nu 500,000.00 |
| 20% | Income from Nu 500,000.01 | to | Nu 1,000,000.00 |
| 25% | Income from Nu 1,000,000.01 | | and above |
Bhutan Non-residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 0% | Income from Nu 0.000.00 | to | Nu 200,000.00 |
| 10% | Income from Nu 200,000.01 | to | Nu 250,000.00 |
| 15% | Income from Nu 250,000.01 | to | Nu 500,000.00 |
| 20% | Income from Nu 500,000.01 | to | Nu 1,000,000.00 |
| 25% | Income from Nu 1,000,000.01 | | and above |
Bhutan Social Security and Payroll Deduction Rates in 2024
In Bhutan, the social security and payroll deduction system involves contributions from both employees and employers. These contributions are channeled into a variety of funds and schemes intended to provide a safety net for workers and their families.
Bhutan Social Security in 2024: Rates for Employers and Employees| Category | Employee | Employer | Total |
|---|
| Provident Fund System | 5% | 5% | 10% |
Bhutan Social Security and Payroll Deduction in 2024: Earnings Thresholds for Employers and Employees| Category | Employee | Employer |
|---|
| Min. | Max. | Min. | Max. |
|---|
| Provident Fund System | n/a | n/a | n/a | n/a |
Retirement and Pension Fund Contributions
One of the key elements of social security in Bhutan is the retirement and pension fund. Contributions to this fund ensure that employees receive financial support upon reaching retirement age. This pension system is designed to provide a stable source of income for individuals in their post-employment years.
Health Insurance Contributions
Both employees and employers contribute to health insurance schemes. These contributions are vital in ensuring that all employees have access to healthcare services. This system helps in covering medical expenses and provides financial protection against health-related risks.
Unemployment Benefits
Contributions are also made towards unemployment benefit schemes. These funds are used to support employees who have lost their jobs, providing them with temporary financial assistance during their period of unemployment.
Workers' Compensation Fund
Another important component is the workers' compensation fund. This fund is designed to assist employees who suffer from work-related injuries or illnesses. It helps cover medical treatment costs and provides financial support during recovery periods.
The social security system in Bhutan, funded through these payroll deductions, plays a crucial role in ensuring the welfare and protection of employees and their families. It contributes significantly to the nation’s social and economic stability.
Historic Tax Tables supported for Bhutan
The following tax tables are supported by iCalculator™ BT as part of the suite of free tax tools we provide for Bhutan.