Technical 03 April 2024 Issue 2 Ashley Fife

Bermuda shorts

Ashley Fife summarises recent developments in Bermuda that may be of interest to international private wealth practitioners

Key points

What is the issue?

On 18 December 2023, the Bermuda legislature enacted the Corporate Income Tax Act 2023 (the Act) and issued guidance regarding its application.

What does it mean for me?

The Act generally imposes a 15 per cent corporate income tax on certain Bermuda-resident ‘entities’.

What can I take away?

Please login to access this content

If you are not a member, find out more about joining STEP or subscribing to STEP articles.