Alexander Collis

Oct 22, 2024 | jdsupra.com | Charissa Ball |Alexander Collis |Steven Davies

Our corporate team outline the latest developments within the corporate and finance market in Bermuda including Bermuda’s Corporate Income Tax Act 2023, Cyber risk management and The Bermuda Monetary Authority's enhancements to its Insurance Regulatory Regime.

Oct 7, 2024 | mondaq.com | Gavin Woods |Alexander Collis

Following the enactment of Bermuda's Corporate Income Tax Act (the "CIT Act") in December 2023, in July 2024, the Government of Bermuda passed the Corporate Income Tax Agency Act (the "Agency Act") which, among other things, (i) establishes the Bermuda Corporate Income Tax Agency (the "Agency"); (ii) sets out the functions and powers of the Agency with respect to administration of the CIT Act, the collection of tax monies, issuing determinations and settling disputes with taxpayers, requiring...

Jul 24, 2024 | lexology.com | Charissa Ball |Alexander Collis

Introduction to Bermuda’s Corporate Income Tax Act 2023 On 27 December 2023, the Corporate Income Tax Act 2023 (“CITA”) received governor’s assent in Bermuda. The operating provisions of this legislation come into effect on 1 January 2025, and, at such time and for the first time in Bermuda’s history, corporate income tax will be chargeable to certain Bermuda-based entities (referred to in CITA as “Bermuda Constituent Entities”) for fiscal years beginning on or after 1 January 2025.

Apr 5, 2023 | lexology.com | Gavin Woods |Alexander Collis

Bermuda is a popular domicile for limited purpose insurers, being insurance companies established for purposes of self-insurance, as well special purpose insurers. Bermuda is also a significant domicile for commercial insurers and reinsurers.