Payroll Tax Amendments for 2024

The budget statement which was read on Friday, February 16^th, 2024, by the Premier and Finance Minister, the Hon. David Burt, JP, MP included the following amendments to the Payroll Tax Act 1995.

New Hire Relief: 2024 

The New Hire Relief of 2024 repeals and replaces the relief granted in both 2018 and 2020. The 2024 New Hire Relief is offered to:

The Ministry of Finance has published a Consultation Paper covering the Appeals Tribunal Framework for public consultation. The financial services sector together with other interested parties are invited to submit their views on the proposals set out in the Consultation Paper.

The NAMLC provides important and current information related to sanctions to assist you with Bermuda’s Sanctions Regime compliance.

Premier of Bermuda and Minister of Finance, the Hon. E. David Burt JP MP welcomed to the Island the Consul General of France in New York, Mrs. Anne-Claire Legendre, during a visit to the Cabinet Office.

She was accompanied by France’s Honorary Consul to Bermuda, Nicole Haziza (also pictured).

A wide-ranging discussion between the two included Bermuda’s relationship with the European Union and the advent and future of blockchain technology.

Ministerial Statement by the Premier and Minister of Finance, The Hon. David Burt, JP, MP  

Mr. Speaker,
I am pleased to advise this Honourable House and the public of the Initial Coin Offering Regulations that have been published to supplement the Companies and Limited Liability Company (Initial Coin Offering) Amendment Act 2018.

Pre-budget Report 2025-2026

The pre-budget report (PBR) is a document produced annually by the Government to provide the public with a better understanding of our fiscal aims and objectives, an update on our economy, a summary of the policies under consideration, and to solicit feedback.

The Ministry of Finance today reported on the 2017/18 First Quarter Fiscal Performance.

2017/18 First Quarter Fiscal Performance:

The headline numbers for the 2017/18 National Budget were: a revenue target of $1.04 billion; current expenditure of $1.11 billion, including debt service; capital expenditure of $67.5 million; and a projected deficit of $134.7 million.

Deputy Premier and Minister of Finance the Hon. E.T. Richards JP MP today advised that Standard & Poor’s (S&P) has affirmed Bermuda’s rating at A+ and maintained our outlook stable.

He said he welcomed the ratings notification on Bermuda published by S&P. 

Media statement from the Acting Minister of Finance, the Hon. Michael Fahy, JP.

Land Tax for the period 1 July through 31 December 2016 is due as follows: