Bermuda's Budget for 2015-2016 was presented on 20 February 2015. The main tax related measures include:
- The Corporate Services Tax rates will be increased from 6% to 7%
- The payroll tax rate will be increased from 14.0% to 14.5%, with the maximum percentage payable by employees increased from 5.25% to 5.50%
- Fuel duties will be increased by BMD 0.5 per liter
- Land tax on commercial buildings will be increased from 4.4% to 5.5%
- A study will be performed on the feasibility of introducing a consu…