Taxes Management Amendment Act 1999

Link to law: http://www.bermudalaws.bm/Laws/Annual%20Laws/1999/Acts/Taxes%20Management%20Amendment%20Act%201999.pdf

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Taxes Management Amendment Act 1999
TAXES MANAGEMENT AMENDMENT ACT 1999

1

BERMUDA
1999 : 36

TAXES MANAGEMENT AMENDMENT ACT 1999

[Date of Assent 23 August 1999]

[Operative Date 1 June 2001]

WHEREAS it is expedient to amend the Taxes Management Act
1976:

Be it enacted by The Queen's Most Excellent Majesty, by and
with the advice and consent of the Senate and the House of Assembly of
Bermuda, and by the authority of the same, as follows:

Citation
1 This Act may be cited as the Taxes Management Amendment Act
1999.

Amendment of section 36A of principal Act
2 Subsection 36A(2) of the Taxes Management Act 1976 ("the
principal Act") is deleted and the following is substituted—

" (2) A person—

(a) in breach of his duty under subsection (1) is
guilty of an offence and is liable on summary
conviction to imprisonment for 6 months or a
fine of $2,500; or

TAXES MANAGEMENT AMENDMENT ACT 1999

2

(b) in fraudulent breach of his duty under
subsection (1) is guilty of an offence and is liable
on conviction on indictment to imprisonment for
5 years or a fine of $10,000.".

Repeal and replacement of section 37 of principal Act
3 Section 37 of the principal Act is repealed and the following is
substituted—

"Criminal tax evasion
37 (1) Any person who, by any wilful act or wilful default
or by any art or contrivance whatever evades or attempts to
evade payment of tax is guilty of an offence and is liable on
summary conviction to imprisonment for 6 months or a fine of
$2,500.

(2) Any person who, by any fraud, evades or attempts
to evade payment of tax is guilty of an offence and is liable on
conviction on indictment to imprisonment for 5 years or a fine of
$10,000.

(3) A person convicted of an offence under subsection
(1) or (2) is liable to an additional penalty not exceeding treble
the amount of the tax evaded or attempted to be evaded.

(4) For the purposes of subsection (2) and section
36(A)(2)(b) "fraud" or "fraudulent breach" means any wilful act by
a person with intent to defraud where—

(a) that person knows that a substantial amount of
tax would otherwise be due; and

(b) the conduct involved constitutes a systematic
effort or pattern of activity designed to falsify
material records to the relevant authorities.".

Commencement
4 This Act comes into operation on such day as the Minister of
Finance may appoint by notice published in the Gazette.