Bermuda tax rates
Caribbean · headline statutory rates, 2025 · Low tax
In Bermuda, the top statutory personal income tax rate is 0% (no personal income tax) (ranked #94 of 96 countries), the headline corporate income tax rate is 15%, and the standard VAT/GST rate is No personal income tax; 15% corporate tax for large MNEs from 2025. Capital gains for individuals are treated as: No capital gains tax. Overall it reads as a low tax jurisdiction on headline rates — low headline rates overall. These are statutory top rates, not the effective tax most people pay, and not tax advice — verify with Bermuda's official tax authority.
Source: PwC Worldwide Tax Summaries. Data as of June 2026.
Bermuda tax rates at a glance
| Tax | Bermuda |
|---|---|
| Top personal income tax rate | 0% (no personal income tax) |
| Corporate income tax rate | 15% |
| Standard VAT / GST | No personal income tax; 15% corporate tax for large MNEs from 2025 |
| Capital gains (individuals) | No capital gains tax |
| Employee social security | Payroll tax (employer/employee split) |
Source: PwC Worldwide Tax Summaries. Data as of June 2026.
Headline statutory rates (2025), compiled from PwC Worldwide Tax Summaries and cross-checked against OECD / Tax Foundation data. Rates change — confirm with the official tax authority before relying on them. This is not tax advice.
What these Bermuda rates mean
The figures above are headline statutory rates: the top marginal personal income tax rate, the standard (not reduced) VAT/GST rate, and the main corporate rate. Bermuda stands out because it charges no personal income tax on salaries, which is why it appears on lists of low-tax destinations for expats and remote workers. There is no broad VAT/GST — no personal income tax; 15% corporate tax for large mnes from 2025. Always layer in social security (Payroll tax (employer/employee split)) and any local taxes for a full picture.
How Bermuda ranks
| Measure | Bermuda | Rank (1 = highest) |
|---|---|---|
| Top personal income tax | 0% (no personal income tax) | #94 of 96 |
| Corporate income tax | 15% | #79 of 96 |
| Standard VAT/GST | No personal income tax; 15% corporate tax for large MNEs from 2025 | — |
Countries with a similar tax level to Bermuda
The five countries closest to Bermuda on overall headline tax level:
| Country | Top income tax | Corporate tax | VAT/GST |
|---|---|---|---|
| Bermuda (this country) | 0% (no personal income tax) | 15% | No personal income tax; 15% corporate tax for large MNEs from 2025 |
| Kuwait | 0% (no personal income tax) | 15% | No personal income tax; no VAT yet |
| United Arab Emirates | 0% (no personal income tax) | 9% | 5% |
| Guernsey | 20% | 0% | No VAT; 0% corporate tax for most companies |
| Qatar | 0% (no personal income tax) | 10% | No personal income tax; no VAT yet |
| Bahrain | 0% (no personal income tax) | 0% | 10% |
Frequently asked questions
What is the income tax rate in Bermuda?
Bermuda levies no personal income tax on salaries — the top rate is 0%. (Some local, payroll or social-security charges may still apply.) These are headline statutory rates as of 2025; verify with the official tax authority before relying on them.
What is the corporate tax rate in Bermuda?
Bermuda's headline corporate income tax rate is 15%, ranking #79 of 96 by headline corporate rate. Effective rates can differ with incentives, surcharges and local taxes. Verify with the official authority.
Does Bermuda have VAT or sales tax?
Bermuda has no standard VAT/GST in our dataset (No personal income tax; 15% corporate tax for large MNEs from 2025).
Is Bermuda a high-tax or low-tax country?
On headline statutory rates, Bermuda looks like a low tax jurisdiction — low headline rates overall. This is a rough signal from top rates only, not the effective tax an average person or company pays. Tax residency, deductions and treaties change the real picture. Not tax advice.
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Sources & accuracy
Headline rates for Bermuda from PwC Worldwide Tax Summaries, cross-checked with the OECD and Tax Foundation. Data as of June 2026; reflects roughly the 2025 tax year. These are statutory headline rates, not effective rates, and this page is general information, not tax advice — verify with Bermuda's official tax authority and a qualified adviser before acting. See our methodology and disclaimer.
Last updated: 2026-06-20