Bermuda parliament approves landmark Corporate Income Tax Legislation

The Bermuda parliament has granted its approval to the eagerly anticipated Corporate Income Tax legislation set to take effect in 2025. 

The government anticipates that this groundbreaking legislation will result in a substantial influx of revenue into the country’s coffers.

A pivotal step towards fiscal transformation

Bermuda’s legislators have greenlit a significant change in the nation’s financial landscape by endorsing a 15 per cent tax on the profits of multinational corporations boasting annual revenues exceeding €750 million.