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On Friday, the Minister of Health announced that the Customs Tariff Amendment (No 2) Bill 2018, more commonly referred to as the Sugar Tax Bill, would be amended during the debate to take into account “further consideration of the consultation feedba...

Legislators are scheduled to debate two tax Bills in Parliament today. The “sugar tax” on sweetened foods and beverages will go before MPs, along with a Bill to tax Airbnb-style vacation properties at 4.5 per cent on rentals. The session will also se...

A proposed sugar tax could cause “painful price hikes”, a soft drinks producer warned yesterday. Bruce Barritt, general manager of John Barritt & Son, said higher costs faced by distributors would be passed along to customers and hit island producers...

Bermuda is keeping a close eye on European Union developments around requirements for jurisdictions with low or no income tax. The European Council is considering finalising criteria for those jurisdictions, and an update is anticipated later this mo...

Extra cash from a proposed sugar tax should be used to boost health education, experts said yesterday. Annabel Fountain, a diabetes specialist, and the Bermuda Diabetes Association warned that use of only “a portion” of the new tax’s revenue would no...

In January I wrote two opinion pieces on the proposed sugar tax. Given that the Government has now laid the Customs Tariff Amendment (No. 2) Act 2018 before the House of Assembly, it is worth reminding you of what the World Health Organisation recomm...

“Sugar tax” legislation has been tabled in the House of Assembly. The Customs Tariff Amendment (No. 2) Bill includes several changes to import duty rates relating to sugar and sugar products. A Government spokesman said: “This follows the Sugar Tax C...

Executives of mortgage insurer and reinsurer Essent Group Ltd said that the company’s Bermuda structure still gives it a tax advantage — even after US tax reform reduced the benefit. Essent reported first-quarter profits of $111.1 million last Friday...

Technology giant Softbank Group has corrected four years of tax filings after Japanese authorities uncovered hundreds of millions of dollars of undeclared earnings in two Bermuda subsidiaries. The Bermuda entities were set up by two Softbank subsidia...

Ministers from the Bermuda Government are to be asked to give evidence before British MPs as part of a probe into tax avoidance and evasion. The sub-committee of the Treasury Select Committee launched its investigation in the wake of the Panama and P...

There is no doubt that Bermuda is as free a country as can be found anywhere, but we should be aware that there are Bermudian busybodies on our case, and if successful, they will make us a little less free. All with the noble objective of telling us ...

A tax on high-sugar sweet products will have a sour effect on small businesses, the owner of a bakery in St George’s warned yesterday. Kamilah Cannonier, of Sweet Saak Bakery, said the Government should reconsider the tax and predicted it would drive...