Feedback on tax legislation welcomed
The Corporate Income Tax Agency has encouraged people to submit feedback on related legislation.
The agency released a paper inviting feedback on proposed revisions to the Corporate Income Tax Act 2023 and the Corporate Income Tax Agency Act 2024.
A statement said the proposed amendments aimed to align the legislation more closely with the Global Anti-Base Erosion Rules guidelines.
It added: “CITA acknowledges that some stakeholder feedback has already been considered and, where relevant, incorporated into the draft legislation.
“Through this public consultation, CITA invites further input on the revised illustrative draft and suggestions for any additional guidance needed to support implementation.
“The Government encourages all stakeholders to review the proposals and provide comments or suggestions to help strengthen the legislative framework.”
People can e-mail feedback to consultation@cita.bm with “Corporate Income Tax Act Technical Amendments” in the subject line until the June 19 deadline.
• To see the full consultation paper, see Related Media
• UPDATE: this article has been updated to include the e-mail address for consultation and deadline date
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