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Ambitious plans depend on fiscal discipline and CIT revenues

Move follows recommendation made last year in report from Tax Reform Commission

Yesterday’s revised Budget gave us a much clearer picture of the hammer blow that Covid-19 has dealt to public finances. An eye-watering $295 million government deficit for the year ended March 31, 2021, is partly the result of ramping up spending t...

A Texan billionaire stands accused of using a family charitable trust based in Bermuda to hide assets in what may be the largest tax evasion case against an individual in US history. Robert Brockman, 79, was charged with multiple counts of tax evasio...

Bermudians have learnt lessons from severe hurricanes in the recent past — and their thorough preparation is one of the reasons why damage from Hurricane Nicole appears to be relatively light. That is the view of John Wight, chief executive officer o...

Broad-based tax increases were among the key recommendations of an independent report on the Bermuda’s Government’s efforts to stabilise its finances. The Fiscal Responsibility Panel (FRP), made up of three overseas experts, suggested that the Govern...

Bermuda has been overstating the number of companies registered on the Island for more than a decade, Government revealed yesterday. Economic Development Minister Grant Gibbons said the errors had been spotted by officials at the Registrar of Compani...

The Bermuda Government will have to borrow another $125 million in the next fiscal year, adding to its $2 billion-plus of outstanding debts. Of the $800 million that the Government borrowed less than two years ago to see it through multiple years of...

Bermuda is likely to emerge from recession this year, according to projections by the Ministry of Finance. Analysts from the Ministry estimate that the economy will grow by up to 1.5 per cent next year. In the outlook section of The National Economic...

Bermuda needs an influx of thousands of people to boost its flagging population — or strong economic growth will not happen. This is the view of Don Mills, chief executive officer of a Canadian market research company involved in a pioneering Bermuda...