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The Financial Action Task Force has retained Barbados, Cayman Islands and Jamaica on the Grey List, citing strategic deficiencies in their countering of money laundering, terrorist financing and proliferation financing. The decision came from the rep...

Residents can apply for a payroll tax rebate that was announced as part of a $15 million economic relief package. David Burt said that 75 per cent of the island’s workforce was eligible for the scheme. The Premier and Minister of Finance told ...

Laws designed to keep more money in people’s pockets were passed in the Senate on Wednesday. They included legislation that will make sure hospitality staff do not hand over payroll tax on gratuities, instant stamp duty relief for first-time homebuye...

The Government is to make changes to the controversial sugar tax, the Premier has revealed. Speaking during a debate in the House of Assembly yesterday afternoon on the Customs Tariff Amendment Act — which will provide customs relief on 21 food and h...

Moves to stop hospitality staff having to hand over payroll tax on their tips have been passed by MPs. Wayne Furbert, the Cabinet Office Minister, said the change was needed to cover tips generated by a service charge on customer bills. The minister ...

A charity has welcomed the Government’s move to cut duty on some essential goods. On Friday, the Premier and finance minister, David Burt, told the House that 21 goods would have duty cut to zero. Items included were bath soap bars, laundry detergent...

Bermuda was formally removed from the grey list by the Council of the European Union yesterday, as it added Anguilla, the Bahamas and Turks & Caicos Islands to the black list. The council said in a statement: “The commitment of Bermuda with regard to...

After languishing on a register of shame instituted by European governments, Bermuda appears set to be “white-listed” by the European Union. It is the ultimate answer to any suggestion that Bermuda is a tax haven. In effect, it declares that Bermuda ...

A pledge by the Government to hand out rebates on payroll tax could turn into a “bureaucratic nightmare”, a former finance minister has said. Bob Richards, who held the Cabinet post during the One Bermuda Alliance administration, said the onus would ...

The government has confirmed a continuing working brief, keeping track of developments on international tax considerations that could force the island’s largest multinationals to pay a global minimum tax. But a spokesman would not confirm there has b...

An appeal was made by the Tax Commissioner for lawyers and legal firms to tackle payroll tax arrears that totalled more than $2.9 million. Derek Rawlins asked the Bermuda Bar Association to help by “encouraging” its members to settle up to avoid cour...

Bermuda's largest reinsurers could get a tax break from government, it has emerged. Rating agency analysts have been told a corporate tax break may be a way of mitigating the effects of a proposed international tax agreement imposing new tax obligati...