A raft of legislation relating to new tax revenue as well as duty relief for small cruise liners was passed by senators in the Upper House last night.

The Miscellaneous Taxes Amendment Act 2017 and the Financial Services Tax Act 2017 were approved in the afternoon.

Meanwhile, the Government Fees Amendment Regulations 2017 and the Bermuda Immigration and Protection (Land Holding Charges) Amendment Regulations 2017 were also backed by senators.

The Miscellaneous Taxes Amendment Act 2017 extends passenger cabin tax relief for small cruise ships until 2023.

Senator Michael Fahy said the relief was a key incentive to ensuring that more cruise ships would be calling in to Hamilton and St George’s in the coming years.

The Minister for Tourism and Transport said that the new regulations would provide “clarity and corrections” to fees in the Limited Liability Company Act, while also implementing a lower rate for non-profit groups to obtain work permits in some situations.

Under the legislation, the implementation of higher land holding charges for people buying property in Bermuda will be deferred for two years until March 31, 2019.

Finally, senators passed the Financial Services Tax Act 2017, despite concerns raised by some PLP senators about the level of consultation involved in bringing about this new tax on banks, local insurance companies and money services businesses.

Mr Fahy said the new tax would bring in around $10 million in revenue.