July 17, 2014 5:44 PM

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Bhutan: 5% Green tax on fuel comes into effect

In Bhutan , the five per cent Green tax on fuel has come into effect from today. With the tax, prices of fuel in the nation has increased by more than two ngultrum.(nu) The government imposed the five percent green tax on fuel to correct the persistent current account deficit faced by the economy. The price of petrol in the capital Thimphu is about Nu. 73.17 per litre and diesel is Nu. 60 .47 for a litre. The tax is levied on every litre of fuel the distributor sells. The tax was proposed as the demand for fuel is always on rise. According to the official media last year, Nu. 7.4 Billion that is equivalent to 7.4 billion rupees worth of fuel was imported from India. One ngultrim is equal to one rupee .

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