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Payroll Tax Rates Amendment Act 2015

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Payroll Tax Rates Amendment Act 2015
FA E R
N

AT F
TQUO U

BERMUDA

PAYROLL TAX RATES AMENDMENT ACT 2015

2015 : 11

WHEREAS it is expedient to amend the Payroll Tax Rates Act 1995 and the Payroll
Tax 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
This Act, which amends the Payroll Tax Rates Act 1995 (“the principal Act”), may

be cited as the Payroll Tax Rates Amendment Act 2015.

Amends section 3
In section 3 of the principal Act, in subsections (1) and (2), delete “14%” and

substitute “14.5%”.

Amends section 4
In section 4 of the principal Act—

in subsection (1), delete “7.75%” and substitute “8.25%”; and

in subsection (3), delete “5.25%” and substitute “5.5%”.

Amends section 5
In section 5 of the principal Act—

in Class A, delete “9.75%” and substitute “10.25%”;

in Class B, delete “7.25%” and substitute “7.75%” in respect of paragraphs
(a), (b) and (c) only;

1

2

3

(a)

(b)

4

(a)

(b)

1

PAYROLL TAX RATES AMENDMENT ACT 2015

in Class BB—

delete “10.75%” and substitute “11.25%”; and

delete “12.75%” and substitute “13.25%”; and

in Class C, delete “5.25%” and substitute “5.5%”.

Amends section 7
In section 7 of the principal Act, delete “5.25%” and substitute “5.5%”.

Amends section 9 of the Payroll Tax Act 1995
In section 9(2)(f)(ii) of the Payroll Tax Act 1995, delete “2015” and substitute “2016”.

Commencement
This Act comes into operation on 1 April 2015.

[Assent Date: 29 March 2015]

[Operative Date: 01 April 2015]

(c)

(i)

(ii)

(d)

5

6

7

2