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A former finance minister “is scared for Bermuda” because of an international movement towards a global minimum corporate tax. While the island has previously faced such global pressures, Bob Richards, who was finance minister from 2012 to 2017, fear...

Former finance minister Bob Richards believes that bowing to international pressure to establish a corporate tax regime in Bermuda could be a fool’s errand. The average person thinks that income tax is easy to understand, he says, but in financial se...

US Treasury Secretary Janet Yellen said yesterday that deterring the use of tax havens will let countries compete on economic fundamentals — instead of by offering ever-lower tax rates that deprive governments of money for infrastructure and educatio...

The inflation rate edged up to 0.9 per cent in April. Commenting on the Consumer Price Index report, Wayne Furbert, Minister for the Cabinet Office, said: “In April consumers paid 0.9 per cent more than they did in April 2020 for a basket of goods an...

Bermuda has a right to decide what is the appropriate tax system for the island and to make its own adjustments. Any changes to its tax system, which has been in place for 200 years, should be as a result of its own determinations rather than as a re...

President Joe Biden might have persuaded some of the world's largest economies to hike taxes on corporations, but the US Congress could be a far tougher sell. White House press secretary Jen Psaki said on Friday that leaders of the Group of Seven — ...

Retail sales rose 7.7 per cent in March, the ninth consecutive month that the volume of sales has grown on a year-on-year basis. The value of sales for the month was $105.7 million, which was a 9.8 per cent improvement. The same month in 2020 saw Be...

A broad measure of Bermuda’s economic activity contracted in the fourth quarter of 2020, primarily because of restricted economic activity due to the Covid-19 pandemic. Gross domestic product is the value of goods and services generated by the island...

Bermuda’s trade surplus rose by $20 million to $248 million in the fourth quarter of 2020, but imports of goods and services dropped compared to the same October to December period in 2019. The current account surplus was the highest it has been sinc...

The retail inflation rate rose to 0.2 per cent in February, up from -0.3 per cent in January. Wayne Furbert, Minister for the Cabinet Office, said: “The health and personal care sector was the largest contributor to the twelve-month increase in the C...