Executive Summary
Bermuda’s Corporate Income Tax Agency reminds taxpayers with a 31 December 2025 fiscal year-end that Corporate Income Tax and Tax Credit Benefits returns are due 2 November 2026 via CITA Online. The obligation applies to MNE groups with annual revenue of EUR 750 million or more under the Corporate Income Tax Act 2023 and Tax Credits Act 2025.
Secondary Regulatory & Regional Updates
- Filing Deadline: Corporate Income Tax and Tax Credit Benefits returns for fiscal years ending 31 December 2025 are due 2 November 2026 and must be filed through CITA Online. CITA Online
- Applicable Regime: The filing obligation arises under the Corporate Income Tax Act 2023 and Tax Credits Act 2025, implementing OECD Pillar Two for MNE groups with annual revenue of EUR 750 million or more at a 15% minimum effective tax rate. CITA Online
- Compliance Requirements: Finalize group composition in CITA Online before filing, retain supporting documentation for six years, and ensure Economic Substance Act declarations align with CIT group compositions. Late filing carries a BMD 5,000 fixed penalty plus interest. CITA Online
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.