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Tax

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"Clearing up the confusion over new US tax forms"

AS anticipated, the two new Forms introduced by the Internal Revenue Service in 2012, Form 8949 to report on Sales and Other Dispositions of Capital Assets and Form 8938 Statement of Foreign Financial Assets are causing significant confusion among ta...
Mar 06, 2012
Other

"Report: US corporate profits in Bermuda ‘646% of Island’s GDP’"

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. “...
Feb 27, 2012
Other

"Land licences netted $1.3m, law to be reversed"

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...
Feb 22, 2012
Other

"Realtor welcomes change in property purchase restrictions"

A leading luxury real estate company has welcomed Government's decision to again allow Bermudians to sell homes to non-Bermudians. And now Rego Sothebys International Realty hopes Government will also give Permanent Resident Certificate (PRC) holders...
Feb 22, 2012
Other

"Petition against duty increase presented to Premier"

A petition against a rise in duty on personal items imported into Bermuda has been presented to Premier Paula Cox. More than 3,400 people have signed the petition, which was delivered to the Premier and various media today. A cover letter attached to...
Feb 14, 2012
Local Business

"Thomson steps up duty hike protest"

A petition calling on the Premier not to raise duty on personal imports has grown to more than 2,500 signatures. Meanwhile, Mailboxes Unlimited president Steve Thomson has stepped up his campaign against a duty hike, taking out a series of advertisem...
Jan 31, 2012
International Business

"Bermuda an issue again for Romney"

Mitt and Ann Romney failed to list a Bermuda fund as well as investment income from a Swiss bank account on financial disclosure forms filed last year. The disclosure documents are required of presidential candidates. A Romney spokeswoman told the A...
Jan 27, 2012
International Business

"Romney names Bermuda company in his tax returns"

Wealthy Republican presidential candidate Mitt Romney’s tax returns show an array of offshore investments from a recently closed Swiss bank account to funds in the Cayman Islands and a company set up in Bermuda in 1997, named Sankaty High Yield Asset...
Jan 25, 2012
International Business

"Bermuda signs tax agreement with Turkey, Korea"

Bermuda signed Tax Information Exchange Agreements with the Republic of Turkey and the Republic of Korea yesterday, bringing the Island’s total bilateral tax agreements to 32 of which 15 are with G20 member countries. The agreements provde a full exc...
Jan 24, 2012
International Business

"Canadian judge allows lawsuit over alleged Bermuda ‘tax shelter’"

A Canadian judge has cleared the way for a class-action lawsuit over a charity tax credit programme that was alleged to have served to enrich a private trust and companies based in Bermuda. Businessman Edward Furtak, who lives in Bermuda, is describe...
Jan 24, 2012
Opinion Writer

"US tax time: changes you need to know"

This is an update for Bermudian nationals (and others, UK, Canadian) who are dual citizens with the United States; Bermudians who overstay their United States presence triggering US residency for US income tax purposes; local residents with US green ...
Jan 14, 2012
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