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Tax

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"Realtor welcomes change in property purchase restrictions"

A leading luxury real estate company has welcomed Government's decision to again allow Bermudians to sell homes to non-Bermudians. And now Rego Sothebys International Realty hopes Government will also give Permanent Resident Certificate (PRC) holders...
Feb 22, 2012
Other

"Petition against duty increase presented to Premier"

A petition against a rise in duty on personal items imported into Bermuda has been presented to Premier Paula Cox. More than 3,400 people have signed the petition, which was delivered to the Premier and various media today. A cover letter attached to...
Feb 14, 2012
Local Business

"Thomson steps up duty hike protest"

A petition calling on the Premier not to raise duty on personal imports has grown to more than 2,500 signatures. Meanwhile, Mailboxes Unlimited president Steve Thomson has stepped up his campaign against a duty hike, taking out a series of advertisem...
Jan 31, 2012
International Business

"Bermuda an issue again for Romney"

Mitt and Ann Romney failed to list a Bermuda fund as well as investment income from a Swiss bank account on financial disclosure forms filed last year. The disclosure documents are required of presidential candidates. A Romney spokeswoman told the A...
Jan 27, 2012
International Business

"Romney names Bermuda company in his tax returns"

Wealthy Republican presidential candidate Mitt Romney’s tax returns show an array of offshore investments from a recently closed Swiss bank account to funds in the Cayman Islands and a company set up in Bermuda in 1997, named Sankaty High Yield Asset...
Jan 25, 2012
International Business

"Bermuda signs tax agreement with Turkey, Korea"

Bermuda signed Tax Information Exchange Agreements with the Republic of Turkey and the Republic of Korea yesterday, bringing the Island’s total bilateral tax agreements to 32 of which 15 are with G20 member countries. The agreements provde a full exc...
Jan 24, 2012
International Business

"Canadian judge allows lawsuit over alleged Bermuda ‘tax shelter’"

A Canadian judge has cleared the way for a class-action lawsuit over a charity tax credit programme that was alleged to have served to enrich a private trust and companies based in Bermuda. Businessman Edward Furtak, who lives in Bermuda, is describe...
Jan 24, 2012
Opinion Writer

"US tax time: changes you need to know"

This is an update for Bermudian nationals (and others, UK, Canadian) who are dual citizens with the United States; Bermudians who overstay their United States presence triggering US residency for US income tax purposes; local residents with US green ...
Jan 14, 2012
Other

"Late or non-payments of taxes on the increase"

A spike in late or non-payment of taxes by businesses is adding to Government’s revenue shortfall. Government revealed in its pre-budget report last week that it had made a nearly $50 million allowance for bad debts for fiscal 2010-11 as businesses c...
Dec 19, 2011
Letters to the Editor

"Tax hike would hurt public "

This is an open letter to Premier Paula Cox. December 14, 2011 Dear Premier Cox, I waited as long as possible before putting pen to paper in regards to the attached. However, the screams and cries from our customers have encouraged me to stand up and...
Dec 16, 2011
Politics

"Idea to reduce tax on betting finds favour"

Government is considering reducing Betting Tax rates to stimulate betting transactions based in Bermuda. According to the Pre-Budget Report, released on Monday, the tax may be reduced from its current rate to bring it closer to that of other countrie...
Dec 15, 2011
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