Payroll Tax Rates Amendment Act 2007
PAYROLL TAX RATES AMENDMENT ACT 2007



BERMUDA

2007 : 12

PAYROLL TAX RATES AMENDMENT ACT 2007


Date of Assent: 29 March 2007
Operative Date: 1 July 2007


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:

Short title
1 This Act, which amends the Payroll Tax Rates Act 1995 (the
"principal Act"), may be cited as the Payroll Tax Rates Amendment Act
2007.

Amends section 5
2 Section 5 of the principal Act is amended under the heading
“Class C” of the Table by inserting, immediately after paragraph (i), the
following new paragraph—


1

“(j) an employer who establishes a business which is located
in an Economic Empowerment Zone (designated under
section 2A of the Economic Development Act 1968),
which business is registered by the Bermuda Small
Business Development Corporation under section 4(1)(c)
of the Bermuda Small Business Development
Corporation Act 1980; provided that no such employer
shall, by virtue of this paragraph, be chargeable to tax at
this rate for a period exceeding five tax periods
beginning, and including, the tax period in which the
business is established.”.



PAYROLL TAX RATES AMENDMENT ACT 2007


2



Commencement
3 This Act shall come into operation on such day as the Minister
may appoint by Notice published in the Gazette.