Corporate - Taxes on corporate income

Last reviewed - 29 June 2023

Bermuda imposes no taxes on profits, income, dividends, or capital gains, has no limit on the accumulation of profit, and has no requirement to distribute dividends.

The Bermuda government routinely grants Tax Assurance Certificates to exempted undertakings (i.e. exempted companies, permit companies, exempted partnerships, and exempted unit trust schemes) on application to the Minister through the Bermuda Monetary Authority. These Tax Assurances guarantee that any Parliamentary imposition of such taxes will not be applicable to the company and its operations in future years. Currently, the Tax Assurances being granted extend to 31 March 2035. See details on exempted companies in the Other issues section.