Inheritance tax and inheritance law in Bermuda
Taxation Researcher | March 11, 2020
Technically, there are no applicable estate duties or inheritance taxes on property.
Stamp duties are however payable for the ´Affidavit of Value of Deceased Estate´. This duty is levied on the value of the net assets (estate). A family home transferred upon death may be exempted from stamp duty.
STAMP DUTIES ON ESTATE VALUE
|TAX BASE, US$||TAX RATE|
|Up to US$100,000||
|US$100,000 - US$200,000|
|US$200,000 - US$1 million|
|US$1 million - US$2 million||
|Over US$2 million||