Log In

Commercial property is to face a land tax increase, but only for a year. David Burt, the Premier and Minister of Finance, said that tax rates on commercial businesses are to go up from 7 per cent to 12 per cent. The increase will mean that owners wil...

David Burt conceded he will face opposition from within his own camp as he outlined plans to reform the business ownership 60:40 rule. In yesterday’s Budget Statement it was announced foreigners, who could previously only own 40 per cent of a busines...

The Bermuda Government will borrow an extra $90 million in 2018-19 and put back the date to balance the budget by another year. David Burt’s maiden Budget yesterday focused on economic stimulation at the expense of austerity. One of the results is th...

The Bermuda Government stands to reap millions by tightening payroll tax on notional salaries in owner-managed businesses. Branded an “often-abused part of the payroll-tax system” by David Burt in his Budget speech, notional salaries were estimated t...

“Everything will be tokenised and connected by a blockchain one day.” — Fred Ehrsam Recently my mother asked me: “What’s all this fuss about blockchain and cryptocurrency?” The question my mother asked is part of a broader discussion that is now hap...

The Tax Reform Commission is facing a difficult but achievable challenge, according to new chairman Ronald Simmons. Mr Simmons, a former director of the Bermuda Monetary Authority, said he was honoured by the opportunity to serve as chairman. He said...

This is the second article of a three-part series discussing when a foreign national, such as a Bermudian or Bermuda resident, can be classified as a US tax resident under US tax regulations. One of readers’ frequently asked questions is: “What is ...

Inflation jumped to 2 per cent in November, up from 1.4 per cent the month before. The transport and foreign travel sector was up 1.2 per cent, with the average cost of overseas hotels up 3.6 per cent, and airfares 1.6 per cent higher. Among food ite...

Bermuda could address part of the problem of its high cost of living by creating a new watchdog to identify and clamp down on anti-competitive behaviour. That is the view of economist Robert Stubbs, whose latest research suggests that “uncompetitive ...

Nathan Kowalski, Financial Ramblings from the Rock What follows are my thoughts on the 2018/19 pre-Budget report policy options recently released by the Government, considering a set of first principles. Let’s assume our goals or principles in buildi...

Bermuda’s students took advantage of Customs Day Open House yesterday at The Pier, where they witnessed a number of impressive displays. The event, in which Senator Jason Hayward made an appearance, came at the heart of a range of activities during C...

Two senior members of the management team at the Bermuda Monetary Authority are to serve as co-vice chairmen within the International Association of Insurance Supervisors. Craig Swan and Marcelo Ramella will be on committees that have been created as...