Bermuda has no income tax, corporation tax, capital gains tax, gift tax, inheritance tax, estate duty or indeed any direct taxes on income, capital gifts or deaths. A stamp duty is levied on the estate of a spouse who has survived his or her partner but this applies on Bermudians only. The government is empowered to give an assurance to "international businesses" that in the event of taxation being imposed in the future on profits or income or on the value of capital assets or gains, then such taxation shall not be applied to international businesses. Such assurances currently extend for a period ending not later than March 20th, 2016.
There is a small land tax levied annually on all real estate owned in Bermuda whether by Bermudians or non-Bermudians on a sliding scale based on the annual rental value.
Government revenues are provided mainly from ad valorem import duties, a small payroll tax paid by employers, and annual registration fees for corporations in Bermuda and stamp duties. In addition there is a hospital levy and contributory pension scheme, one half of each being recoverable from the employee. There is also a small tax payable by Trust companies, lawyers, accountants and management firms on revenue from company management. The only direct taxes likely to affect "international clients" are the departure tax at the airport ($20) and a hotel occupancy tax being a small surcharge on hotel bills.
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