Bermuda Islander - Step 16
INTRO – STEP16
Nothing Zero About Tax in Bermuda’s Economy!
All governments across the globe assess some sort of taxes in order to operate a country, if you will. Some countries do have low tax rates - due to high valuations from native and natural products, such as sheer volumes of oil supplies to the world - that have the effect of reducing the need for taxation from the local populace to almost nil.
Most countries, however, assess taxation in one form or another on their residents and citizens.
Bermuda is no exception, having just as many taxes as other jurisdictions, working out to a marginal tax rate of an average 22% of GDP (Gross Domestic Product).
Learn more about the various forms of taxes and proposed new ones.
Click here to download the pdf