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【Cross-Border Tax】BERMUDA: Foreign tax credit system will accompany 15 per cent corporate income tax

Bermuda's government will launch a qualified refundable tax credit programme in 2024 to become effective in 2025, in parallel with its new 15 per cent corporate income tax for large businesses liable to the OECD global minimum tax rule. It hopes that such credits will support Bermuda-based job retention and growth, as well as investments in career training, infrastructure, sustainability and other initiatives ...

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