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Bermuda: Domestic Corporate Taxation

Social Insurance

Bermudan employers must pay social insurance contributions in respect of every employee over 16 years old, and who works more than 4 hours per week; half of the amount paid may be deducted from the employee's pay.

Foreign (non-Bermudian) employees are covered by the tax, retrospectively if necessary, if they work for six months or more in the country.

Employers must provide the Social Insurance Department at the Government Administration Building with a list of their employees and their social insurance numbers; the Department bills employers monthly.

For 2011, the social insurance contributions are BMD60.80 per week, BMD30.40 due from each of the employer and employee and is unchanged from 2010.

 

 

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