Bermuda Proposes 2022-23 Budget Statement

The Bermudian Ministry of Finance Feb. 25 announced proposed tax measures under the 2022-23 budget statement. The proposal includes measures that would: 1) extend for six months the payroll tax relief regime for hotels, restaurants, bars, and nightclubs; 2) extend for two years from March 31 the new hire tax incentive regime for local and international businesses with an annual remuneration of BD$500,000 (US$500,000); 3) remove land taxes for registered care homes; and 4) reduce payroll taxes for employees with a salary of less than BD$96,000 (US$96,000). [Bermuda, Ministry of Finance, 02/25/22]

Reference:
View Announcement. View 2022-23 Budget Statement ...