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Bermuda was once more caught up in an indiscriminate hail of fire loosely aimed at offshore financial centres this week after the global coverage of tax avoidance by wealthy people known as the Panama Papers. Bermuda was not mentioned in the stories ...

The president of Bermuda Bar Association said yesterday that ensuring clients complied with tax obligations in their home countries was “probably not a matter” for the island’s corporate lawyers. In the wake of the massive Panama Papers data leak, Ri...

Smokers have to dig deeper into their pockets after the cost of brand-name cigarettes went up this week. Responding to the price increase, some members of the public speaking to The Royal Gazette said it may act as a deterrent — but others insisted i...

Finance minister Bob Richards insisted yesterday that Britain could not “unilaterally tear up Bermuda’s constitution” and impose direct rule on the island to make it obey UK tax law. He told The Royal Gazette that a suggestion from British Labour Par...

The widow of assassinated Bermuda Governor Sir Richard Sharples has been named in a leak of confidential bank documents. The details of Baroness Pamela Sharples’s business dealings were among the “Panama Papers” — 11 million documents leaked from the...

Bermuda should not be lumped in with offshore centres that encourage tax-dodging, the Bermuda Business Development Agency said today. The BDA hit out after a massive leak of documents from a Panamanian law firm Mossack Fonseca, which have sparked pro...

An online debate has called into question whether Bermuda’s churches should retain their tax-exempt status. The debate sparked up last week when 134 of the island’s churches and rectories paying zero land tax, as recorded on the Land Valuation and T...

NEW YORK (Bloomberg) — Alan Schnitzer, the new chief executive officer of insurer Travelers Cos, called on US lawmakers to reduce corporate taxes or risk harming business in the country. “We continue to see the US corporate income tax rate — the high...

Residential property owners have been advised to recheck their land tax rates, after a retroactive adjustment in the House of Assembly. The Office of the Tax Commissioner announced that existing due dates are no longer valid, following the decision ...

Increases to the tourism authority fee will not be as high as expected, the Minister of Economic Development told the House of Assembly. Grant Gibbons said the hotelier’s tax for each guest would be set at 4.5 per cent and not 5.5 per cent as set ou...

The House of Assembly last night approved an increase in payroll tax despite vocal opposition. While Bob Richards, the Minister of Finance, said the move was a temporary but necessary measure, shadow minister David Burt said it would place an additio...

Duty relief for retailers looking to upgrade their stores will be extended for another five years after the approval of legislation in the House of Assembly. The Retail Shops (Temporary Customs Duty Relief for Capital Investments) Amendment Act, pres...