Bermuda vs United States

15% (if subject to Bermuda CIT) or 0%.

Federal corporate income tax: 21%. State CIT generally ranges from 1% to 10% (although some states do not impose CIT) and is deductible for federal CIT purposes.

If subject to Bermuda CIT, tax returns are proposed to be due by the 15th day of the 10th month following the fiscal year-end.

April 15 for calendar-year corporations (15th day of the 4th month after the tax year-end); a 6-month filing extension to October 15 is available. State income tax returns usually follow the federal due date, with a few exceptions.

Upon filing the CIT return (if applicable), a 'true-up' payment considering previous estimated payments must be made no later than the due date of the return, regardless of when the return is filed.

Tax must be fully paid by the original due date of the return (April 15 for calendar-year corporations); the final estimated instalment is due on the 15th day of the 12th month of the tax year.

Taxes are paid in instalments.

The first instalment is proposed to be due by the 15th day of the 8th month after the beginning of the fiscal year, amounting to 50% of the expected tax liability for the year.

The second instalment is due by the 15th day of the 12th month after the beginning of the fiscal year, bringing the total instalments to 90% of the expected tax liability for the year.

Four equal instalments of estimated tax, due by the 15th day of the 4th, 6th, 9th and 12th months of the tax year (April 15, June 15, September 15 and December 15 for calendar-year corporations).

0

0/0/0

0

30/30/30

0

NA

There is no VAT or sales tax in Bermuda.

21% (aligned with the federal CIT rate for corporations)

0

22.69

0

7.03