Bermuda MOF Presents 2026-2027 Budget Statement

The Bermudian Ministry of Finance Feb. 20 presented the 2026-2027 budget statement. The statement includes measures to: 1) reduce to 9.75 percent, from 10.25 percent, the withholding tax rate for exempt international businesses; 2) reduce to 9.5 percent, from 10 percent, the withholding tax rate for large local employers with remuneration over BD$1 million (US$1 million); 3) reduce by 0.5 percent, the withholding tax rate for medium-sized enterprises with remuneration between BD$200,000 (US$200,000) and BD$1 million; 4) reduce to 4 percent, from 5 percent, the withholding tax rate for hospitality sector employers; 5) reduce to 5 percent, from 6 percent, ...