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Bermuda’s new tax credits, effective 2026, offer business relief and aim to boost investment and jobs.
Bermuda’s House of Assembly approved new tax credits under the Tax Credits Act 2025, offering relief to businesses through substance-based, utilities, and community development credits.
The credits, which can offset payroll tax or generate CIT refunds, apply regardless of whether a company is subject to the island’s corporate income tax.
The Corporate Income Tax Agency will administer them, with regulations expected soon.
The move aims to boost competitiveness, attract investment, and support local jobs, while addressing concerns over revenue loss and benefit distribution.
The legislation is set to take effect for the 2026 fiscal year.
Los nuevos créditos fiscales de las Bermudas, que entrarán en vigor en 2026, ofrecen un alivio para las empresas y tienen como objetivo impulsar la inversión y el empleo.