Money and Taxes

Personal tax obligations, financial services information, and consumer finance resources for Bermuda residents.

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The Consumer Price Index

Conducted by the Business Division of the Department of Statistics, the Consumer Price Index (CPI) is a statistical tool used for measuring changes in the general level of prices of consumer goods and services purchased by private households. It is the appropriate economic instrument to use when determining the effect of changes in retail prices on the average household budget and is one of the most used economic indicators in Bermuda. Structure of the CPI The index measures price movements of..

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International Sanctions Measures

The Financial Sanctions Implementation Unit (FSIU) helps people and organisations in Bermuda comply with international sanctions. Find the legislation, sanctions lists and the latest sanctions updates.

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Common Reporting Standard & Country-by-Country Reporting

NOTICE OF UPDATED PORTAL USER GUIDE AND CRS COMPLIANCE REMINDERS Please note that this webpage is no longer being updated for Common Reporting Standard and Country-by-Country Reporting. For the latest information and updates, please visit the Corporate Income Tax Agency’s website at Corporate Income Tax Agency (CITA) Bermuda | CITA Bermuda | Official Government Tax Authority . 2/9/2026 UPDATED PORTAL USER GUIDE The Ministry of Finance wishes to notify Bermuda Common Reporting Standard (“CRS”)...

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Types of taxes in Bermuda

Individuals in Bermuda don’t pay personal income tax. Instead, the Government of Bermuda levies a Payroll Tax. Payroll Tax Payroll Tax is levied on all employers. However, as an employee your employer may deduct a 6 per cent whiholding amount from your salary to contribute toward the total Payroll Tax obligation. If you’re self-employed, you are required to pay Payroll Taxes yourself . Land Tax All homeowners and long-term tenants are required to pay Land Tax twice yearly. You must pay Land Tax.

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Pay a Parking Ticket Online

Welcome to the Government of Bermuda’s online service for paying parking tickets. Follow the steps below to quickly and easily settle your parking ticket. Using the Online Payment Portal To pay a parking ticket online, users must input their parking ticket information. Then, they will be guided through a straightforward process to complete the payment using their debit or credit card. When paying your parking ticket, you'll need: the number on your ticket the date of your ticket a valid debit...

Legal Aid Application

If you want to apply for legal aid, you will need to tell the Government of Bermuda the reason when you are applying to make sure it is covered under the Legal Aid Act 1980 .

Tip and Other Gratuities Policy Statement Form

The Tip and Other Gratuities Policy Statement form is required for businesses in Bermuda to ensure transparency and compliance regarding employee tips and gratuities. The form must be completed by employers in the service industry to outline their policies on how gratuities are managed, distributed, and reported. Purpose: The Policy Statement and corresponding template contained herein has been created by the Ministry of Economy and Labour for employers to implement pursuant to the Employment...

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Calculating Payroll tax for the period April 1, 2026 – March 31, 2027

Payroll Tax Amendments for 2026 The budget statement which was read on Friday, February 20th, 2026, by the Premier and Finance Minister, the Hon. David Burt, JP, MP included the following amendments to the Payroll Tax Act 1995. Click the arrows to view full details. Click on the arrows below to view full details. New Hire Relief 2026 The New Hire Relief of 2026 repeals and replaces the relief granted in 2024. The 2026 New Hire Relief is offered to: All Exempted Companies and, All other...

Calculating Payroll Tax for the period April 1, 2025 – March 31, 2026

Payroll Tax Amendments for the fiscal year April 1, 2025 – March 31, 2026 The budget statement which was read on Friday, May 2, 2025, by the Premier and Finance Minister, the Hon. David Burt, JP, MP included the following amendments to the Payroll Tax Act 1995. Redundancy Payments – Tax Exemption Effective July 1, 2025, any payments made to employees or deemed employees, or benefits provided in connection with the permanent termination of employment —whether due to redundancy or other...

Bermuda Contributory Pension Fund Actuarial Review

The Contributory Pension Fund (CPF) Actuarial Review offers valuable insights into the financial health and sustainability of Bermuda’s pension system. Conducted every three years, these reviews evaluate the Fund’s ability to fulfill its long-term obligations, ensuring financial security for current and future beneficiaries. An actuarial report analyzes the present and future conditions of the pension fund, assessing its capacity to meet the needs of those who depend on it. The reviews also...

Incentives for Job Makers - Guidelines for Employers

The Economic Development Department (EDD) offers a range of incentives for employers who are committed to job creation and economic growth in Bermuda. These guidelines provide detailed information on the available incentives and the application process for employers. Below is an overview of the key aspects: Overview of Incentives Tax Relief: Employers may be eligible for tax relief, including payroll tax exemptions and customs duty relief, to support job creation. Work Permit Concessions:...

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Grants Awarded to Support Youth Development and Community Services
Press Release

Grants Awarded to Support Youth Development and Community Services

The Premier, the Hon. David Burt, JP, MP, presented grants awarded from the Confiscated Assets Fund (CAF) to three community organisations supporting youth development and social services. He was joined by the Minister of Home Affairs, the Hon. Alexa Lightbourne, JP, MP, along with MP Neville Tyrrell, MP Lawrence Scott, and MP Denis Lister III. The recipients were the Pembroke Hamilton Club (PHC) Drum and Majorette Corps, the Delta Sigma Theta Sorority, and Teen Services. Each organisation...

S&P Improves Bermuda’s Outlook to Positive, Affirms A+ Ratings
Press Release

S&P Improves Bermuda’s Outlook to Positive, Affirms A+ Ratings

The Government of Bermuda welcomes the latest ratings action from S&P Global Ratings, which has improved Bermuda’s outlook to Positive from Stable and affirmed the Island’s A+ long-term sovereign credit rating and A-1 short-term rating. S&P said the positive outlook reflects its expectation that, over the next 12 to 24 months, “corporate income tax collections will remain strong” and that the Government will “pay down its debt and strengthen fiscal balances.” Premier and Minister of Finance,...

Minister of Home Affairs advocates for greater financial access with Clarien Bank Executives
Press Release

Minister of Home Affairs advocates for greater financial access with Clarien Bank Executives

As part of her ongoing efforts to address all pillars of Bermuda’s cost of living challenges, including financial access and affordability, the Minister of Home Affairs, the Hon. Alexa Lightbourne, JP, MP, met with Clarien Bank executives to explore banking solutions that could benefit Bermudian families. Minister Lightbourne, accompanied by Permanent Secretary Valerie Robinson-James, met with Ian Truran, Chief Executive Officer, and Simon Van de Weg, Chief Banking Officer to discuss savings...

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