The impact of implementing Bermuda’s corporate income tax will come under the spotlight in a panel discussion at a major conference this year.

In September, the island will host the Bermuda Captive Conference, now in its twentieth year, bringing together industry leaders and a host of expert panellists.

Tom McMahon, executive vice-president, Davies Captive Management, who is the conference chairman, said: “We are thrilled to welcome attendees to the twentieth annual Bermuda Captive Conference.

“This year’s event promises to be our most engaging and insightful yet, offering unparalleled networking and thought leadership opportunities.

“Our theme, ‘Navigating Captive Horizons’, reflects the dynamic and resilient nature of Bermuda’s captive sector.

“We look forward to fostering collaboration and equipping our attendees with the tools and insights needed to navigate the complexities of the captive landscape.”

He said next year the conference would return to its traditional June schedule and would be held at the Hamilton Princess Hotel & Beach Club.

“This change is eagerly anticipated by both local and overseas captive owners, as well as industry professionals, who have long valued the timing and venue for fostering deeper connections and taking advantage of Bermuda’s close-knit business community.

“The June timing aligns much better with the industry’s annual planning cycles, making it an ideal opportunity for attendees to gain insights and network at a crucial time in the business calendar,” Mr McMahon added.

This year’s conference will feature some captive owners, including the University of Pennsylvania, Sensible Weather and Morgan Stanley International Insurance, besides others to be announced in the coming weeks.

A conference spokeswoman added: “Panel discussions explore future trends and strategic responses necessary to adapt and thrive in an ever-evolving global market.

“Key topics include regulatory updates, enhancements to Bermuda’s segregated account companies, investment strategies for captives, medical stop loss and employee benefits and mutuals.

“Attendees will also get a snapshot into Bermuda’s fiscal horizons with Jennifer Masters, senior vice-president, Bermuda captive leader, Brown & Brown, as she moderates a panel that explores the impact of implementing Bermuda’s corporate income tax.”

Panellists will include Crystal Pittendrigh, tax director at PwC Bermuda, Sarah Robey, tax partner at KPMG in Bermuda, Michael Regan, tax consultant to the Ministry of Finance and Donay Viljoen, tax leader at Forvis Mazars, in Bermuda.

The Corporate Income Tax Act, passed in 2023, will charge 15 per cent on the profits of multinational enterprises with more than €750 million (about $808 million) of annual revenue.

The event will take place at Pier Six in Hamilton on September 9 and 10. Attendees can register here.