Bermuda has announced plans to implement General Services Tax on services from the 1st of April 2017, at an expected rate of 5%. They currently do not charge any consumption taxes so companies will need to be prepared for this new tax burden. Banking, Insurance, health care sectors, and small service providers will be exempt from the new tax. Even though Bermuda is now technically out of recession, the tax is being introduced in order to generate some much needed revenue to help pay off the countries debts. The new tax is expected to generate $50m a year in revenue. Laura was one of the original employees at Innovate Tax and has developed an excellent knowledge of indirect tax in Oracle. A great problem solver makes her an asset to any project, whether implementing or supporting and has hugely contributed to the multiple awards we have won.
Source: Bermuda to introduce Services Tax
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