The Bermuda Government has enacted the following legislation - the Taxes Management Amendment Act 2006, the Contributory Pensions Amendment Act 2006, and the National Pension Scheme (Occupational Pensions) Amendment Act 2006 (the “Acts”).
These amendments were introduced in order to hold directors and officers legally responsible (strict liability) for unpaid taxes due by companies under the Taxes Management Act 1976, and unpaid company pension contributions due under the Contributory Pensions Act 1970, and the National Pension Scheme (Occupational Pensions) Act 1998.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.