Bermuda’s tax system is renowned for its “zero direct tax” framework, with a standard corporate income tax rate of 0%, and no personal income tax, capital gains tax, inheritance tax, or value-added tax (VAT), making it a globally recognized offshore financial center. However, effective 2025, in alignment with the OECD’s global minimum tax rules, Bermuda has introduced a 15% corporate income tax (Domestic Minimum Top-up Tax) for large multinational enterprises with annual global revenues exceeding €750 million. For the vast majority of small and medium-sized enterprises, holding companies, and entities that do not meet this threshold, the composite effective average tax rate and marginal tax rate remain at 0%.
Bermuda Tax Brief
Time of Update 3/24/2026
Bermuda Corporate Income Tax (CIT)
General CIT Rate:
15% (if subject to Bermuda CIT) or 0%.
CIT Return Due Date:
If subject to Bermuda CIT, tax returns are proposed to be due by the 15th day of the 10th month following the fiscal year-end.
CIT Payment Due Date:
Upon filing the CIT return (if applicable), a 'true-up' payment considering previous estimated payments must be made no later than the due date of the return, regardless of when the return is filed.
CIT Estimated Payment Due Date:
Taxes are paid in instalments.
The first instalment is proposed to be due by the 15th day of the 8th month after the beginning of the fiscal year, amounting to 50% of the expected tax liability for the year.
The second instalment is due by the 15th day of the 12th month after the beginning of the fiscal year, bringing the total instalments to 90% of the expected tax liability for the year.
The first instalment is proposed to be due by the 15th day of the 8th month after the beginning of the fiscal year, amounting to 50% of the expected tax liability for the year.
The second instalment is due by the 15th day of the 12th month after the beginning of the fiscal year, bringing the total instalments to 90% of the expected tax liability for the year.
Bermuda Withholding Tax (WHT)
Resident Withholding Tax (Dividend/Interest/Royalty):
0
None-Resident Withholding Tax (Dividend/Interest/Royalty):
0
Bermuda Value-Added Tax (VAT)
General VAT Rate:
0
Learn More
Bermuda Capital Gain Tax (CGT)
General Capital Gain Tax Rate:
There is no VAT or sales tax in Bermuda.
Bermuda Effective Tax Rate (ETR)
Composite Effective Average Tax Rate:
0
Composite Effective Marginal Tax Rate:
0
Additional info
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TKEG Expat Bermuda Corporate Tax Guide
VAT
Excise taxes
1.
VAT
There is no VAT imposed in the Bermuda.
2.
Excise taxes
There are no excise taxes in the Bermuda.
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