The creation of a new tax agency to deal with the upcoming Corporate Income Tax is to go before MPs today in the House of Assembly.

A long debate can be expected over the momentous legislation, which includes the penalty of a $100,000 fine and up to two years’ imprisonment for multinational companies failing give the agency their financial information.

The One Bermuda Alliance has previously criticised the Government for including prison terms in earlier Bills — although adding teeth to legislation such as the Computer Misuse Act 2024 passed the House with ease.

Also on the tax front, a “significant“ cut to energy taxes is to be tabled, according to David Burt.

The Premier announced on Wednesday night that the move was undertaken to offset an increase in electricity bills set to kick in on or after August 1.

A piece of housekeeping legislation, the Bermuda Hospitals Board Amendment Act 2024, covers the online publication of fees, including for physicians and dentists visiting the hospital.

Legislators will also discuss the Development and Planning Amendment Act 2024, aimed at improving the operations of the planning department.

Two items will be tabled: the Water Resources Amendment Act 2024 and the Contributory Pensions Amendment of Benefits Order.

A string of ministerial statements is lined up on the Orders of the Day.

Mr Burt is to speak on tax reform as well as updating MPs on the Government’s financial performance.

Walter Roban, the home affairs minister, will speak on the amendments coming to the Water Resources Act 1975.

Kathy Lynn Simmons, the Minister of Legal Affairs and Constitutional Reform, is to speak on improved legal protections for Bermudians, and Michael Weeks, the national security minister, is to deliver a seven-year review.

Three ministers are to speak on “building a better and fairer Bermuda”: Lieutenant-Colonel David Burch, the public works minister; Kim Wilson, the health minister, and Diallo Rabain, the education minister.

Tinée Furbert, the Minister of Youth, Social Development and Seniors, is to give a statement on efforts to strengthen the “social safety net”, and Jason Hayward, the Minister of Economy and Labour, will speak on an agreement between the governments of Bermuda and the United Arab Emirates to “advance government excellence and technology skills development”.