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ARTICLE · 04 DECEMBER 2025

Bermuda: Corporate Income Tax Credits

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On 21 November 2025, the Government of Bermuda tabled the Tax Credits Act 2025 (the "TCA").

BermudaTax
Robert Alexander
Robert Alexander
Edward Rance
Edward Rance
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On 21 November 2025, the Government of Bermuda tabled the Tax Credits Act 2025 (the "TCA"). As previewed in our September alert, the TCA establishes, for the first time in Bermuda's history, a series of credits that certain Bermuda-based organisations can utilise to materially reduce their corporate income tax or payroll tax liability. Given its progress through the Bermuda legislature, we anticipate that the TCA will be enacted no later than (and possibly in advance of) 15 December 2025.

The substance of the TCA remains consistent with the "illustrative" draft tax credits legislation that was released in a public consultation in September. The TCA establishes three types of credits:

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