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Legislation paving the way for new payroll tax bands aimed at providing relief to lower earners was passed by MPs in the House of Assembly on Friday night. However, Bob Richards, the Minister of Finance, told Parliamentarians that the implementation ...

The implementation of the employees’ portion of proposed payroll tax reform will be delayed until July 1, Bob Richards, the Minister of Finance, told the House of Assembly last night. The announcement came before the Payroll Tax Amendment Act 2017 w...

Bermuda’s low-income workers are caught in “a reverse Robin Hood effect”, according to economist Craig Simmons — and the tax breaks in the latest Budget do not go far enough to pull them out. On the other hand, Keith Jensen, head of the Bermuda Emplo...

Social justice campaigner Martha Dismont has welcomed tax reform pledges to help the working poor, but warned they could also bring unwanted consequences. Ms Dismont, executive director of Family Centre, described finance minister Bob Richards’s ackn...

It was the Robin Hood Budget in which Bob Richards took from the rich and gave to the less well-off. At least that’s how the finance minister would doubtless like it to be portrayed in an election year in which he has scant leeway to dish out sweete...

Family charities and business associations have welcomed the move by the Government to reform the structure of the payroll tax system. In yesterday’s Budget, Bob Richards, the Minister of Finance, told MPs that the Government was looking to bring tax...

Lower-paid workers will get payroll tax cuts over two years, while big earners will be forced to dig deeper into their pockets. Delivering a 2017-18 Budget yesterday aiming to spread the tax burden more fairly, finance minister Bob Richards also anno...

Craig Simmons is calling for the payroll tax cap to be gradually doubled to a “reasonable” $1.5 million. Speaking ahead of tomorrow’s Budget, the Bermuda College economist said the slow rather than sudden increasing of the ceiling should be done over...

Some Bermuda reinsurers may consider changing tax domicile if the US enacts the tax cuts proposed by Donald Trump in his presidential election campaign. That is the view of analysts at Standard & Poor’s Global Ratings, whose new report on the island...

As the year progresses the Internal Revenue Service continues to provide taxpayers with updates on expiring legislation that was renewed as well as deductions indexed for inflation. Recent updates follow. FBAR: new filing deadline The new annual due ...

Strong comments by finance minister Bob Richards in The Guardian newspaper were “right on” in defending Bermuda’s reputation, Michael Dunkley said, adding that he had discussed the interview with Mr Richards. “We are here together, so we had a genera...

Bob Richards, the Minister of Finance, yesterday blasted Britain over its hypocrisy on tax. Mr Richards said the UK’s bid to get Overseas Territories to establish public registers of ownership in offshore companies would damage the island. And he add...