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Bermuda Parliament passes legislation to enact a 15% corporate income tax

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Bermuda

  • The Bermuda Parliament has passed legislation enacting a 15% corporate income tax regime that will become effective for tax years beginning on or after 1 January 2025.
  • The final legislation is largely consistent with the draft legislation released for public comment in November 2023, with notable changes to certain determinations under the foreign tax credit provisions and the treatment of Bermuda …

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