CIT is a Corporate Income Tax. It is levied @ of 30% on net profit for state enterprise companies and @ of 25% on net profit for other companies. CIT is payable by those entities registered under the Company’s Act of the Kingdom of Bhutan, 2000.
BIT/CIT Registration Every business or company must register with the Regional Revenue & Customs Office (RRCO) from where the trade license or permit is issued or wherever the Head office is located within 3 months from the date of obtaining such trade license or permit in case of BIT entities and within 3 months from the date of incorporation for CIT entities.
Every business or company must file the tax returns (FORM BIT-2 for BIT payers and FORM CIT-2 for CIT payers), on a self assessed basis to the RRCO of registration before 31st March following the end of the income year. The tax returns can be either filed online or by visiting the RRCO where you are registered as BIT/CIT payer.