On 10 December 2025, Bermuda's Senate (upper house of parliament) approved the Corporate Income Tax Amendment (No. 2) Act and the Tax Credit Act 2025. The House of Assembly (lower house) approved both Acts on 5 December.
The Corporate Income Tax Amendment (No. 2) Act 2025 updates Bermuda’s Corporate Income Tax Act 2023 to align with the OECD’s Pillar 2 global minimum tax rules, refine key definitions, and clarify the treatment of tax credits, foreign tax allocations, and financial accounti…