The Government of Bermuda has published Corporate Income Tax FAQs (v6.0), dated 18 November 2024. Bermuda's new 15% corporate income tax will generally apply from 1 January 2025 for taxpayers in Bermuda that fall within the scope of the Pillar 2 global minimum tax (GloBE) rules. The latest version of the FAQs includes the following new questions and answers:
s.2 – Asymmetric foreign currency gains or losses (new)
Question 1: The definition of asymmetric foreign currency gains or losses …