Payroll Tax Amendments for 2024

The Ministry of Legal Affairs Financial Sanctions Implementation Unit (FSIU) provides important and current information related to sanctions to assist you with Bermuda’s Sanctions Regime compliance. 

Budget Statement In support of the Estimates of Revenue and Expenditure 2022 - 2023 presented by the Hon. E. David Burt, JP, MP Premier and Minister of Finance

Delivered on: 25 February 2022

The Ministry of Legal Affairs Financial Sanctions Implementation Unit (FSIU) provides important and current information related to sanctions to assist you with Bermuda’s Sanctions Regime compliance. 

24 August 2023

The administration of Restaurants Temporary Customs Duty Relief (“Restaurants Relief”) will be carried out by the Customs Long Room under the direction of the Assistant Collector of Customs for Commercial Operations.

The Employment and Labour Relations Tribunal, established under the Employment Act 2000, has jurisdiction to hear and determine (including by way of arbitration) complaints, labour disputes, differences, conflicts and other matters referred to it under the Employment and Labour Code.

The budget statement delivered on Friday, February 25, 2022 by the Premier and Finance Minister, the Hon. David Burt, JP, MP resulted in the following amendments to Payroll Tax. 

New Hire Relief

Here you will find information relating to the 2021 - 2022 Budget.

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

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

Per the recent Contributory Pensions Temporary Amendment Act 2020, the Department of Social Insurance wishes to advise the public that the employee option of choosing a social insurance contribution suspension will be made effective July 1, 2020, and terminates on June 30, 2021. 

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

Our role, as set out in our letters of appointment, is “to provide Bermuda’s Parliament, Minister of Finance and Financial Policy Council with an annual published assessment of the territory’s fiscal strategy, focusing on progress in meeting the territory’s medium term objectives for public spend

Here you will find information relating to the 2018 - 2019 Budget.

The Liquor License Act 1974 (the “Act”) is the law that governs the granting of liquor licenses, the conduct of licensed premises, and the punishment of individuals/companies that break the law.

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

The Tax Reform Commission was formed under the Tax Reform Act 2017 with the objective of advising the Government of any measures to improve Bermuda’s system of taxation and revenue collection, in accordance with the functions set out in section 5 of the Act and the Terms of Reference prescribed b

Currency

Dec. 7th - 13th

Dec. 14th - 20th

Dec. 21st - 27th

Dec. 28th - Jan. 3rd

U.S. Dollar (USD)

1.0000

The Foreign Exchange Rates shown below illustrates the amount of Bermuda Dollars required for buying one unit of foreign currency.

Currency

December 1 - 7

December 8 - 14

The Foreign Exchange Rates shown below illustrates the amount of Bermuda Dollars required for buying one unit of foreign currency.

Currency

Dec 1-2

Dec 3-9

Dec 10-16

The Payroll Tax Amendment Act 2017 commenced on 1 April 2017 and it changed the structure of payroll tax into two SEPARATE portions:

The EMPLOYER portion and the EMPLOYEE portion.

In July 2017, as part of its 2017 Platform, the Government issued a pledge to review the Project Agreement between the Bermuda Airport Authority and Bermuda Skyport Corporation Limited to see if Bermuda can get a better deal.

Our Labour Relations Section (“the Section”) oversees the certification and decertification of unions in the workplace, and manages labour disputes in both unionised and non-unionised environments.

Here you will find information relating to the 2017/2018 Budget.

www.gov.bm/articles/budget-press-conference-remarks

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

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

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

Progressive Payroll Tax 2018-19 FAQ’s

Example FAQS

Budget Statement In support of the Estimates of Revenue and Expenditure 2023 - 2024 presented by the Hon. E. David Burt, JP, MP Premier and Minister of Finance

The Government of Bermuda is responsible for the integrity, objectivity and fair presentation of the financial statements of the Consolidated Fund.

Here you will find information relating to the 2016/2017 Budget.

Updated 22 March 2023

The Ministry of Legal Affairs Financial Sanctions Implementation Unit (FSIU) provides important and current information related to sanctions to assist you with Bermuda’s Sanctions Regime compliance. 

Taxes and other expenses in Bermuda must be paid to the Account General, who receives payments for all of the following:

corporate service tax 

Individuals in Bermuda don’t pay personal income tax. Instead, the Government of Bermuda levies a Payroll Tax.

The Office of the Tax Commissioner administers:

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.

The Child Day Care Allowance Programme assists parents/guardians with the cost of child day care for children between the ages of birth and four years old.