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Press Release on FRR 2016

PRESS RELEASE

The Financial Rules & Regulations (FRR 2001) which was implemented with effect from July 2001 has now been revised and will be termed as Financial Rules & Regulations 2016 (FRR 2016). The FRR 2016 has been launched by the Hon’ble Finance Secretary on 27th December 2016 during the Annual Financial Workshop which was themed as “Towards Achieving Excellence in Financial Management”.

The FRR has been revised in accordance to the Public Finance Act; the web based Budgeting and Accounting Systems (MYRB & PEMS) and various circulars and guidelines issued by the Ministry of Finance. In the revised
manual, the accounting, budgeting and reporting systems have been simplified and redundancies have been removed making it more dynamic and user friendly.

Induction Programs for new officers and Inspectors (6-Jan-2017)

Induction Programs for new officers (Graduate officers -PGDFM) and Revenue/Customs Inspectors

The Ministry of Finance (MOF) organised Induction Program for University Graduate Officers (PGDFM) who got their placement in the MOF on 5th January 2017 in the Ministry of Finance, Thimphu. The Officers have been selected through Bhutan Civil Service Examination, completed one year PGDFM course at Royal Institute of Management (RIM) and have been placed in the Ministry of Finance at various positions effective from 1st January 2017.

The Hon’ble Finance Secretary congratulated each of them for successfully completing their course at the RIM and having got their placements in the MOF. The graduates were made familiar with the core mandates of MOF and its importance in nation building through dynamic fiscal policies and sound financial management through maximization of resource generation, efficient allocation and prudent expenditure. Moreover, Dasho urged them to uphold high level of integrity in terms of complying with the various provisions of the Rules and maintain clean track records since they are the key officials to manage the financial resources and their positions fall under vulnerable category. With the right attitude and ability to deliver effectively, he informed the new officers that their prospects in the MOF in terms of career progression and the HR related opportunities are enormous.

A total of 23 PGDFM graduates comprising of 11 Assistant Customs/Revenue/Tax/Sales Tax Officers, 6 Assistant Accounts Officers, 4 Assistant Procurement Officers, 1 Assistant Internal Audit Officer and 1 Assistant Budget Officer attended the above Session. Further, these new Officers will be attached with the respective Departments/Sectors for another two to three weeks to familiarise with the work and organisational culture before they join their new place of postings. The Hon’ble Finance Secretary also briefed the newly recruited 33 Revenue/Customs/Sales Inspectors on 6 January 2017

Notification on Duty Free Membership (23-Dec-2016)

The Department of Revenue and Customs would like to inform all the concerned members of Duty Free Shop that their membership shall expire by 31 December 2016.

Therefore all the members are requested to renew their membership from 1st January 2017 to continue availing duty free facilities.

The application form for both renewal and new membership is available on Downloads. For further enquiry kindly contact Department of Revenue and Customs during office hours at contact number 975-02-322319, 324537.

DIRECTOR
(DRC)