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Bermuda: Tax proposals in 2020-2021 budget

Bermuda: Tax proposals in 2020-2021 budget

The 2020-2021 budget, as presented on 21 February 2020, proposes certain tax changes.

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  • The “large ship infrastructure tax” is to be renamed the “transport infrastructure tax” and the tax amount is to be increased from $22 to $25 per passenger (passengers over the age of two years), effective 1 May 2020.
  • Immigration fees are to be increased by 5%.
  • The customs duty rate for cigarettes containing tobacco substitutes is to be increased, to be in line with current customs duty rate for traditional cigarettes.

Read a February 2020 report [PDF 695 KB] prepared by the KPMG member firm in Bermuda

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