The Draft Bill includes a proposed a statutory income tax rate of 15% and includes a robust package of Qualified Refundable Tax Credits (QRTCs) to maintain Bermuda's attractiveness.

In response to the Pillar Two global minimum tax rules (the GloBE Rules) set out by the Organisation for Economic Co-operation and Development (OECD)...

The month of June 2019 saw a number of important updates to Bermuda's economic substance regime ahead of the 1 July deadline for compliance for entities in existence when the legislation came into force.

The operating provisions of Bermuda's Corporate Income Tax Act 2023 comes into effect on 1 January 2025.

Bermuda's House of Assembly has introduced the Corporate Income Tax Amendment Act 2026, bringing significant updates to the island's corporate income tax regime. The amendments provide enhanced flexibility for filing entities, refine penalty structures, and clarify administrative mechanisms for the Corporate Income Tax Agency. These changes aim to streamline tax return filing processes and improve operational oversight for Bermuda Constituent Entities and multinational enterprise groups operating under the

With the spotlight on offshore financial centres in the wake of the Panama Papers revelations, Stephanie Paiva Sanderson explains Bermuda's participation in the global effort to increase tax transparency in part 1 of a 2 part series.

Bermuda, known for its thriving offshore finance industry, has taken a significant step in modernizing its tax infrastructure with the proposed establishment of a Corporate Income Tax Agency...

Nil filings are not mandatory in Bermuda but may be filed if a Reporting Financial Institution wishes to submit a nil filing to confirm that they have no reportable accounts for the relevant reporting period.

On 4 September 2025 the Ministry of Finance released a public consultation on tax credits (Tax Credits PC).

Non-US persons with internationally diversified portfolios face significant US estate tax exposure on US-situs assets, including securities and real estate, with exemptions far more limited than those available to US citizens.

The Base Erosion and Profit Shifting (BEPS) Project has been a major project for the OECD which has been working hard for the past couple of years to progress and promote it globally.

The OECD has been working at record speed to get the Base Erosion and Profit Shifting Project off the ground over the past couple of years and global implementation is quickly advancing.

The importance of making a Will is made clear in the case of "Maurice", whose failure to do so frustrated his own wishes – and left his widow with an unwanted, and unnecessary, stamp duty expense.

The UK government has recently announced radical changes to the way in which non-domiciled individuals' resident in the UK (‘non-doms') will be taxed.

The CIT will be determined based on a tax rate of 15% and is expected to apply to tax years starting on or after 1 January 2025.

There were significant legislative and regulatory developments on economic substance in the offshore jurisdictions in the past 2 to 3 years.

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

Bermudians who have entered into same-sex marriages, or civil unions/partnerships, in jurisdictions where those legal arrangements are permitted should be aware that such arrangements will likely not be recognised in Bermuda.

Governments play a pivotal role in shaping the financial landscape by imposing regulations, setting corporate and personal tax rates, and controlling the money supply and interest rates.