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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...

On December 18, 2015 President Obama signed the “Protecting Americans from Tax Hikes Act of 2015” (PATH Act). With significant publicity it was as if it was a Christmas present from President Obama and Congress to the American people. A few weeks pri...

Minister of Finance Bob Richards has defended his proposed introduction of a 5 per cent services tax next year. In his 2016-17 Budget statement yesterday, the Deputy Premier briefly detailed his plan for a general services tax, which is scheduled to ...

Finance minister Bob Richards warned yesterday that an international crackdown on offshore jurisdictions could wreck the economies of the developed world. The stark warning came in the Budget speech as Mr Richards said that an attempt spearheaded by ...

David Burt, the Shadow Minister of Finance, has warned that local businesses will end up closing as a result of the tax increases contained in the Budget. Speaking shortly after the conclusion of the 2016-17 Budget statement by Bob Richards, the Mini...

The island is likely to face a hike in taxes when Bob Richards, the Minister of Finance, presents the 2016/17 Budget this morning in the House of Assembly. That assessment has come from observers ranging from Kendaree Burgess, the executive director ...

Last week we wrote about our happy Valentine fellow blissfully leaving the Rock and heading to America to be with the perfect lady in the land of opportunity with its fabled streets of gold and bluer skies. Destiny is so full of promise, but it is al...

While out canvassing recently, a Bermudian couple asked us to come in and have a conversation with them about the hikes in the land tax proposed by finance minister Bob Richards the week before Christmas. The husband presented a spreadsheet that show...

American President Barack Obama yesterday put forward a plan in his final national budget proposal that would raise the US tax burden on some Bermuda reinsurers. It was the seventh year in succession that President Obama included the measure in his b...

Land Tax Demand Notices for the first six months of 2016 will be distributed over the next few weeks, according to the Office of the Tax Commissioner. Payment dates are as follows: • Section A: Public Utilities, City of Hamilton, Sandys, St George’s ...

Britain’s biggest circulation Sunday newspaper has put Bermuda under the spotlight regarding billions of dollars that are sent to the island by internet giant Google. The Sun on Sunday yesterday published a story about Google directing an estimated $...