More tax relief for new hotel developments – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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More tax relief for new hotel developments

New hotel developments subject to tax breaks can take advantage of further relief under legislation approved on Friday in the House of Assembly.

The Tourism Investment Amendment Act 2019 applies to developments The Loren at Pink Beach, Rosewood Bermuda and Azura Bermuda to qualify for relief ranging from one year to ten years, according to Zane DeSilva, the tourism minister.

It also enables Elbow Beach Resort and Spa, which never took up tax relief under previous legislation, to apply for tourism investment orders to receive concessions.

Boosting tourism: renovation at Rosewood Bermuda (Photograph by Akil Simmons)

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Published September 30, 2019 at 9:00 am (Updated September 30, 2019 at 8:29 am)

More tax relief for new hotel developments

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