Global Daily Tax News, First Bermudan Corporate Tax Payments Soon Due, (Aug 14, 2025)

Corporate income tax payments are due in Bermuda for the first time by August 31, 2025.

Bermuda introduced corporate income tax with effect from January 1, 2025. Taxpayers liable to corporate income tax must pay two instalments: by the last day of the eighth month after the end of the fiscal year, and by the 15th day of the 12th month after the end of the fiscal year (that is, by August 31 and December 15, 2025).

At least ten days prior to the first instalment payment, the Filing Bermuda Constituent Entity must register with the Corporate Income Tax Agency (CITA). Registration is additionally required for other Bermuda Constituent Entities that are not the filing entity within 90 days of the original due date for filing the corporate income tax return.

Corporate income tax returns are due by the final day of the tenth month following the end of the fiscal year (that is, by October 31, 2025).

With certain adjustments, the first instalment payment is equal to 50 percent of the tax due on profits for a full year, or 100 percent of profits for a six-month period, based on the net income or loss determined for the Bermuda Constituent Entity in the profit and loss statement in the consolidated financial statements of the ultimate parent entity for the first six months of the fiscal year.

The rules regarding registration, tax payments, and the filing of returns are included in The Corporate Income Tax (Administrative) Regulations 2025.