India and Bhutan have jointly launched the “Tax Inspectors Without Borders (TIWB)”. It has been launched for strengthening the tax administration of Bhutan. It will focus on International Taxation and Transfer Pricing. TIWB programme aims to strengthen tax administrations among developing countries by transferring technical know-how and skills to their tax auditors and by sharing general audit practices & dissemination of knowledge products with them. This programme is another milestone in the relationship between India and Bhutan. It will be completed in 24 months’ duration.
About the Tax Inspectors Without Borders:
- Tax Inspectors Without Borders (TIWB) initiative was launched in 2015.
- Its main aim is to strengthen developing countries’ auditing capacity.
- It is a joint initiative of the United Nations Development Programme (UNDP) and the Organisation for Economic Cooperation and Development (OECD).
- TIWB initiative has completed 80 programmes in 45 countries.
Important takeaways for all competitive exams:
- Bhutan Capital: Thimphu;
- Bhutan Prime minister: Lotay Tshering;
- Bhutan Currency: Bhutanese ngultrum.