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Bermuda - Special considerations for short-term assignments

Special considerations for short-term assignments

Taxation of international executives

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Residency rules

Are there special residency considerations for short-term assignments3?

N/A.

Payroll considerations

Are there special payroll considerations for short-term assignments?

Payroll Tax is not levied with respect to remuneration paid to individuals who are ordinarily employed outside Bermuda, provided that the period of employment in Bermuda (whether for one or more employers) does not exceed 4 consecutive weeks.

Taxable income

What income will be taxed during short-term assignments?

The tax base consists of actual remuneration paid, given, or assessed by any employer or self-employed person to every employee or deemed employee. Remuneration includes any benefits derived by the employee/deemed employee or self-employed person as a result of their employment, whether paid in cash or in kind. The remuneration of a self-employed person or a deemed employee is the greater of their actual or notional remuneration

Additional considerations

Are there any additional considerations that should be considered before initiating a short-term assignment in Bermuda?

N/A.

Disclaimer

All information contained in this publication is summarized by KPMG Tax Limited, the Bermuda member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. The information contained in this publication is based on the Payroll Tax Act 1995, and as amended, as enforced by the Office of the Tax Administrator, the Contributory Pensions Act 1970, as directed by the Department of Social Insurance, the Bermuda Immigration and Protection Act 1956, as administered by the Department of Immigration, National Pension Scheme (Occupational Pensions) Act 1998, Stamp Duties Act 1975, Health Insurance Act 1970, and the Land Valuation and Tax Act 1967.

© 2021 KPMG, a group of Bermuda limited liability companies and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.


For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.

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