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Resort's $650,000 tax concessions

Senators approved a bill granting tax concessions worth more than $650,000 to Cambridge Beaches yesterday to help fund a $5.1 million redevelopment.

Junior Tourism Minister Marc Bean said the Somerset resort had picked up a string of international awards.

The move was supported by the Opposition with Sen. Charlie Swan saying the resort was rare in that it had a sustainable development element with solar panels on a number of cottages.

He said the resort had 70 percent Bermudian staff, valued training and was the epitome of a Bermudian tourism outlet.

Independent Senator Walwyn Hughes questioned what all the hotel concession orders were costing the country with 15 to 16 already granted.

And he questioned why the various hotels seemed to be given tax breaks on different time spans with this particular deal lasting three years while some last five years.

Government Sen. Walton Brown pointed out that while tax revenue was lost, Bermuda ultimately gained as more tourists arrived and spent more.

He said: "Every dollar that is spent has a tax component attached to it so it ultimately goes to Government."