Bhutan's Department of Revenue and Customs (DRC) has issued a notification for individuals and businesses on the tax treatment of the interest waiver granted for loans under the Druk Gyalpo's Relief Kidu (DGRK) for COVID-19. The notification includes that the interest waiver is not a taxable source of income under the Income Tax Act. Further, since interest on loans has been waived, the same is not a deductible expense for income tax purposes when filing tax returns. The notification applies…