- Income tax brackets updated
2026 refresh — verification date, data year, treaty count 1, payroll brackets, social security percentage rates removed, sources and descriptions (taxsummaries.pwc.com) (cita.bm) Source
BM
Bermuda
North America
BMD
BM · BMU · #210 · 4 cities
Nomad score
54/100
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Top income tax
None
None system
Corporate tax
15.0%
VAT/GST
None
standard rate
Tax residency
—
1 tax treaties
Bermuda tax profile
Data year: 2026
- Tax system
- None No personal income tax, VAT, or general withholding tax. Payroll tax (employer and employee shares, remitted by the employer) and contributory pensions apply to employment. Corporate income tax at 15% applies from 2025 to Bermuda constituent entities in multinational enterprise groups with annual revenue of EUR 750 million or more (OECD Pillar Two, Corporate Income Tax Act 2023). Other Bermuda businesses remain exempt from income tax; legacy tax assurance certificates do not block CIT for in-scope groups.
- Top PIT rate
- No Income Tax
- Corporate tax rate
- 15.0%
- VAT/GST
- No VAT/GST
- Capital gains tax
- No Capital Gains Tax
- Social security (employee)
- Rate not recorded
- Social security (employer)
- Rate not recorded
- Dividend withholding
- 0.0%
- Interest withholding
- 0.0%
- Royalty withholding
- 0.0%
- Treaty count
- 1
Income tax brackets
Personal income
| Bracket min | Bracket max | Rate |
|---|---|---|
| BMD 0 | BMD 48,000 | 0.5% |
| BMD 48,001 | BMD 96,000 | 9.3% |
| BMD 96,001 | BMD 200,000 | 10.0% |
| BMD 200,001 | BMD 500,000 | 11.5% |
| BMD 500,001 | BMD 1,000,000 | 12.5% |
Tax residency
- Residency rules
- No personal income tax, so individual tax residency is mainly relevant for payroll tax, pensions, land tax, and work permits. Non-Bermudians require a work permit to be employed locally; PwC does not publish a day-count income-tax residency test.
- Exit tax
- No
- CFC rules
- No
Filing information
- Fiscal year
- 04-01 – 03-31
Sources
- PwC Bermuda Tax Summary (accessed Oct 9, 2026) No PIT; payroll tax; CIT 15% for in-scope MNE groups; contributory pensions; no WHT
- Corporate Income Tax Agency (CITA) (accessed Oct 9, 2026) Bermuda CIT administration, filing from FY beginning 1 January 2025
- Contributory Pensions (Amendment of Contributions and Benefits) Order 2025 (accessed Oct 9, 2026) Weekly pension contributions BMD 37.65 employer and employee (superseded August 2026)
- Government of Bermuda — Bahrain DTA protocol (accessed Oct 9, 2026) 2010 Bahrain income-tax DTA; BEPS protocol signed April 2026