Bermuda: Taxes and Costs
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Last Updated: Jun 07, 2006
Bermuda's property tax is high
Rental income
There are no income taxes in Bermuda.
Property tax
Land tax is assessed on the Annual Rental Value (ARV) of the property. Property owners are expected to pay this tax twice a year. The rates for residential units are:
2005 PROPERTY INCOME TAX |
|
| TAXABLE ARV, US$ | TAX RATE |
| Up to US$11,000 | 0.6% |
| US$11,001 to US$22,000 | 1.2% |
| US$22,001 to US$33,000 | 2.4% |
| US$33,001 to S$44,000 | 4.8% |
| US$44,001 to US$110,000 | 9.6% |
| Over US$110,000 | 18.43 |
Capital gains
There is no capital gains tax in Bermuda.
Bermuda - more data and information
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