Payroll Tax Rates Amendment Act 2000
PAYROLL TAX RATES AMENDMENT ACT 2000

1

BERMUDA
2000 : 14

PAYROLL TAX RATES AMENDMENT ACT 2000

[Date of Assent 29 March 2000]

[Operative Date 1 April 2000]

WHEREAS it is expedient to amend the Payroll Tax Rates Act
1995:

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 and construction
1 This Act which amends the Payroll Tax Rates Act 1995
(hereinafter referred to as "the principal Act") may be cited as the Payroll
Tax Rates Amendment Act 2000 and shall be read as one with the Act.

Interpretation
2 In this Act "the Act" means the Payroll Tax Amendment Act
2000.

Amends section 3 of principal Act
3 Section 3 of the principal Act is amended by deleting "12%"
wherever it appears and substituting therefor in each case "12.75%".

PAYROLL TAX RATES AMENDMENT ACT 2000

2

Repeals and replaces section 4 of principal Act
4 Section 4 of the principal Act is repealed and replaced by the
following—

"Rates where employees are in special situations
4 (1) Except in the case of an employee specified in
section 9(2)(e)(i), 7.75% is prescribed as the rate for the purpose
of section 9.

(2) 7.25% is prescribed as the rate for an employee
specified in section 9(2)(e)(i).".

Amends section 5 of principal Act
5 Section 5 of the principal Act is amended—

(a) in Class A, by deleting item (c) and by deleting "9%"
under the heading "Rate" and substituting "9.75";

(b) in Class B, by deleting "7%" under the Heading "Rate"
and substituting "7.25%" and by inserting next after
Class B the following—

"Class BB Rate

Employer with an annual payroll
of not less than $100,000 and
not more than $200,000:

on the first $100,000 of payroll 7.25%

over $100,000 of payroll but
not exceeding $200,000 9.25%";

(c) in Class C, by deleting "4.5%" and substituting "4.75%".

Repeals section 6, etc. of principal Act
6 Section 6 and the Schedule to the principal Act are repealed.

Amends section 7 of principal Act
7 Section 7 of the principal Act is amended by deleting "4.5%" and
substituting "4.75%".