Bhutan's Ministry of Finance has published the Property Tax Act of Bhutan 2022, which was approved in December 2022 and entered into force on 1 January 2023. The Act supersedes any laws, rules, regulations, notifications, circulars, and executive instruments that are inconsistent with the provisions of the Act. The Act provides for: Land tax, which is payable each year on all land at the rate of 0.1% on the taxable land value; Building tax, which is payable each year on all buildings at the rate of 0.1% on the taxable building value; and Vacant land tax, which is payable each...