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The Senate has approved legislation that would extend lower cabin tax rates in Hamilton and St George’s, among other legislation. In a busy session on Friday, the Senate passed the Miscellaneous Taxes Amendment Act 2012, which extends the lower tax r...

Just 13 percent of residents told pollsters they’d be put off buying overseas by the new 25 percent Customs duty rate. The vast majority said they would either carry on as before or be more likely to shop overseas in spite of the new rate Premier Pau...

A new standard duty rate of 25 percent will take effect on April 1 for non-business goods. But a statement released by Government on Friday added that “special” rates of duty, including zero-rates; higher rates (33.5 percent, 75 percent and 150 perce...

A standardised 25 percent duty rate on imported personal goods was approved by MPs last night. Personal duty free allowance for goods brought in through the airport will also increase from $100 to $200 per person under the Customs Tariff Amendment Ac...

A law change enabling a standard 25 percent duty rate to be charged on goods imported for personal use was introduced in the House of Assembly by Premier and Finance Minister Paula Cox. The Island’s courier companies hit out at the move when it was f...

More than 200 people showed up yesterday for the Bermuda FATCA Forum, hosted by KPMG. Following closely on the heels of the Foreign Account Tax Compliance Act proposed regulations that were released by the US Internal Revenue Service, the interactive...

Government has tabled an amendment that would limit land tax exemptions for the Island’s seniors. The Land Tax Amendment Bill 2012 rolls back the full land tax exemptions granted in 2005 to units occupied by seniors with Bermudian status. Under the a...

A columnist for the Financial Times has claimed US corporate profits in Bermuda totaled 646 percent of the Island’s GDP. He wrote that the winner of this year’s US election will be forced to “engage deeply with fiscal issues”- including tax reform. “...

Government raked in more than $1.3 million issuing land licences to under a law which is set to be reversed. The National Security Ministry yesterday said 955 licences were obtained between June 2007 and the end of 2011 as part of the Bermuda Immigr...