The Government of Bermuda has announced the issuance of the Second Public Consultation on Corporate Tax Administration for Bermuda's new 15% corporate income tax that generally applies from 1 January 2025 for taxpayers in Bermuda that fall within the scope of the Pillar 2 global minimum tax (GloBE) rules. The second consultation is focused on enforcement provisions, including civil and criminal penalties. The deadline for comments is 21 February 2025.
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Corporate Income Tax Administrati…