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The Government is looking into occupational pensions to ensure the system remains “responsive”, but Charles Jeffers of Age Concern questioned “how in the world they are going to produce” with less people working in Bermuda to contribute funds. A dec...

Social justice campaigner Martha Dismont has welcomed tax reform pledges to help the working poor, but warned they could also bring unwanted consequences. Ms Dismont, executive director of Family Centre, described finance minister Bob Richards’s ackn...

Bermuda financial watchdogs have slapped a $1.5 million fine on financial services firm Sun Life Financial Investments for failing to comply with anti-money laundering and antiterrorist financing laws. And the Bermuda Monetary Authority has banned th...

It was the Robin Hood Budget in which Bob Richards took from the rich and gave to the less well-off. At least that’s how the finance minister would doubtless like it to be portrayed in an election year in which he has scant leeway to dish out sweete...

Bob Richards issued a stark warning on the importance of tackling the island’s debt and added that a casual attitude towards extra borrowing would be “irresponsible and dangerous”. The finance minister made the comments in his annual Budget statement...

Family charities and business associations have welcomed the move by the Government to reform the structure of the payroll tax system. In yesterday’s Budget, Bob Richards, the Minister of Finance, told MPs that the Government was looking to bring tax...

Lower-paid workers will get payroll tax cuts over two years, while big earners will be forced to dig deeper into their pockets. Delivering a 2017-18 Budget yesterday aiming to spread the tax burden more fairly, finance minister Bob Richards also anno...

Craig Simmons is calling for the payroll tax cap to be gradually doubled to a “reasonable” $1.5 million. Speaking ahead of tomorrow’s Budget, the Bermuda College economist said the slow rather than sudden increasing of the ceiling should be done over...

The Trump presidency could be good for business and investors, an island asset management firm said yesterday. Bryan Dooley, general manager of LOM Asset Management, said: “We see a lot of positives — the whole pro-business attitude is good for marke...

There are men who would rather have their teeth pulled than shop for clothes. Thanks to Megan Pitman and Chloe Brasier, they don’t have to. The pair will “detox” a client’s wardrobe of ratty clothing, advise on colours and styles and even hit the sto...

Some Bermuda reinsurers may consider changing tax domicile if the US enacts the tax cuts proposed by Donald Trump in his presidential election campaign. That is the view of analysts at Standard & Poor’s Global Ratings, whose new report on the island...

As the year progresses the Internal Revenue Service continues to provide taxpayers with updates on expiring legislation that was renewed as well as deductions indexed for inflation. Recent updates follow. FBAR: new filing deadline The new annual due ...