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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...

The Tax Reform Commission is facing a difficult but achievable challenge, according to new chairman Ronald Simmons. Mr Simmons, a former director of the Bermuda Monetary Authority, said he was honoured by the opportunity to serve as chairman. He said...

This is the second article of a three-part series discussing when a foreign national, such as a Bermudian or Bermuda resident, can be classified as a US tax resident under US tax regulations. One of readers’ frequently asked questions is: “What is ...

Bermuda’s students took advantage of Customs Day Open House yesterday at The Pier, where they witnessed a number of impressive displays. The event, in which Senator Jason Hayward made an appearance, came at the heart of a range of activities during C...

Last week I discussed the Bermuda Government’s Sugar Tax Consultation Paper, which at best could be described as pseudo-consultation. Based on the comments I have received, a further consideration of the issues arising from sugar tax seems appropriat...

The expression “Bermuda is another world” pops into my mind almost every day; I wish I could say for always good reasons. Sadly, I also think of the expression in a not so positive way as well. The latter was my initial feeling when I read the Sugar ...

The US Congress passed the 2017 Tax Cuts and Jobs Act on December 20, 2017 and it has since been signed into law by President Donald Trump. Under the Act, the largest decrease in tax would potentially go to high-income married couples filing jointly....

Accounting and legal services are set to be taxed in next month’s Budget, according to a report by independent advisers of the Bermuda Government. The Fiscal Responsibility Panel’s annual assessment, published last month, also estimates that Governme...

Google uses two structures, known as a “Double Irish” and a “Dutch Sandwich,” to shield the majority of its international profits from taxation. The set-up involves shifting revenue from one Irish subsidiary to a Dutch company with no employees, and ...

The Government has tightened the law to ensure the real ownership of companies registered in Bermuda stays secret. The change was backed by MPs a week before David Burt, the Premier and Minister of Finance, said that Bermuda was “an open, transparent...

Seven years ago, the US led an effort to address a problem facing governments everywhere. Each year, people manage to avoid paying an estimated $2.5 trillion in income tax — a giant sum that could be used to combat poverty, update infrastructure or l...

David Weigel Senator Bernie Sanders was resolutely opposed to the Tax Cuts and Jobs Act. From his perch on the Senate Budget Committee, he weighed it down with rules challenges. At rallies across the Rust Belt, he warned it would speed up America’s ...