Payroll Tax Rates

Payroll Rates - as found on www.gov.bm
14.00% applicable to: 
Taxpayers  with an annual payroll greater than $1,000,000 and exempt undertakings. 

12.75% applicable to: 
Taxpayers  with an annual payroll greater than $500,000 and up to $1,000,000. 

10.75% applicable to: 
Taxpayers  with an annual payroll between $200,000 and $500,000. 

9.75% applicable to: 
Taxpayers operating an hotel or restaurant with an annual payroll of $200,000 or greater. 

7.75% applicable to: 
Remuneration paid to employees in Special Situations, e.g. persons on jury duty or on duty with the Bermuda Regiment or Bermuda Volunteer Reserve, persons employed as farmers, fishermen or horticulturists and hotel employees in December, January or February. 

7.25% applicable to: 
Employers and self-employed persons with an annual payroll of less than $200,000. Educational, sporting, or scientific institutions or societies. Taxi drivers, farmers, fishermen and horticulturists. The Bermuda Hospitals Board and the Corporations of Hamilton and St. George’s. 

5.25% applicable to: 
The Government, Parish Councils, Government Boards, the Bermuda College, approved schools, registered charities, religious and cultural organizations, the Bermuda Festival Ltd., and qualified taxpayers in an Economic Empowerment Zone for the first nine periods of establishing a business.




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