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The Fiscal Responsibility Panel says corporate income tax revenue should be used to reduce debt and calls for personal income tax

Landmark legislation passes after a lively and sometimes heated five-hour debate

Sweeping changes to payroll tax, with exempt companies incurring no extra tax liability, were promised in the Budget

The Throne Speech, under the title of “Social Renewal and Economic Recovery”, opened with the Governor’s reflection on the “definitive”, once-in-an-era change brought by the Covid-19 pandemic. Rena Lalgie told the gathering: “The wounds inflicted by ...

“Fundamental changes” to Bermuda’s taxation regime could come with some form of tax on rental income in the 2022-23 Budget, the Premier has revealed. David Burt said the Tax Reform Commission, set up in 2017, continues to examine an overhaul of taxat...

Exactly 100 days after David Burt led his Progressive Labour Party to an historic landslide election victory on October 1, 2020, the Premier sat down with The Royal Gazette for an exclusive interview on Friday. This is the full interview. Will t...

A string of promises to boost the economy and cut the island’s cost of living were unveiled last night in the Progressive Labour Party’s election platform. The manifesto included a Bermuda National Digital Bank to cut mortgage costs and jump-start th...

The Bermuda Government could reap an extra $147 million over a two to three-year period if policy recommendations from the Tax Reform Commission are implemented, MPs heard this morning. The commission’s report was tabled in the House of Assembly by W...

The Bermuda Government stands to reap millions by tightening payroll tax on notional salaries in owner-managed businesses. Branded an “often-abused part of the payroll-tax system” by David Burt in his Budget speech, notional salaries were estimated t...

David Burt faces a crucial balancing act tomorrow with his first Budget as Premier, former premier Sir John Swan warned. Sir John called Mr Burt “the best of the best that we could have to lead the Progressive Labour Party”. “Not only does he have th...