Intercounbix Indonesia

Shaping a sustainable future

Transfer Pricing | Accounting | Tax | Business Advisory

Bermuda gazettes Corporate Income Tax Act

IBX-Jakarta. Bermuda has gazetted the Corporate Income Tax Act, 2023, which imposes a corporate income tax on certain Bermuda businesses forming part of large MNE groups.

Starting January 1, 2025, corporate income tax shall be chargeable to a Bermuda Constituent Entity Group on its net taxable income for each fiscal year. The amount of corporate income tax chargeable to the Bermuda Constituent Entity Group for a fiscal year shall be 15 percent of the net taxable income of the Bermuda Constituent Entity Group.

The corporate income tax shall apply to Bermuda businesses that are part of MNE Groups with annual revenue of over EUR 750 million.

The Government has introduced certain tax credits to support Bermuda’s economic goals and maintain the global attractiveness of the jurisdiction.

The Finance Ministry has issued frequently asked questions (FAQs) on the Corporate Income Tax Act, 2023, to assist entities in determining if and when they are within the scope of the Act, and to provide guidance as to how certain provisions of the Act are to be interpreted.

Source: https://transferpricingnews.com/bermuda-gazettes-corporate-income-tax-act/

*Disclaimer*

Recent Posts

PPN PMSE Atas Pembelian Digital di Game Online

Jakarta-IBX. Game online merupakan salah satu kegemaran remaja bahkan orang dewasa di Indonesia. Game online yang ramai dimainkan oleh masyarakat Indonesia sangatlah beragam, mulai dari yg dimainkan di smartphone dan komputer. Game online yang ramai di Indonesia antara lain Mobile Legends, Dota2, Valorant, Counter Strike, dan masih banyak yang lainnya.

Read More »

Mengenal Lebih Dalam Terkait Barang Lartas

IBX-Jakarta. Dalam ketentuan terkait Bea dan Cukai di Indonesia terdapat sebuah istilah yang disebut sebagai Barang Lartas (barang pelarangan dan pembatasan). Berdasarkan Peraturan Menteri Keuangan 161/PMK.04/2007 jo PMK 141/PMK.04/2020 tentang Pengawasan Terhadap Impor atau Ekspor Barang Larangan dan/atau Pembatasan, menjelaskan bahwa barang lartas adalah barang yang dilarang dan/atau dibatasi pemasukannya

Read More »