Bermuda

Effective as of 1 January 2025, a 15% corporate income tax (CIT) will be generally applicable to Bermuda businesses that are part of a multinational enterprise (MNE) group with annual revenue of 750 million euros (EUR) or more. This tax aligns with OECD's Global Anti-Base Erosion (GloBE) rules and qualifies as a Covered Tax. Bermuda currently has no proposals to introduce the Income Inclusion Rule (IIR) or the Undertaxed Profits Rule (UTPR).

In December 2025, Bermuda enacted the Tax Credits Act 2025 which offers tax credits available to certain Bermuda businesses.

Bermuda continues its historical position outside this CIT regime, with no imposed tax on profits, income, dividends, or capital gains.

Historically, Bermuda had not imposed taxes on profits, income, dividends, or capital gains. Bermuda businesses that are not within the scope of Bermuda CIT will continue to not be subject to income tax in Bermuda.