On 30 March 2025, Bermuda's House of Assembly (lower house of parliament) approved a bill introducing provisions for civil and criminal penalties in regard to non-compliance with corporate income tax requirements, the Corporate Income Tax (Penalty Provisions) Amendment Act 2025. The bill amends the Corporate Income Tax Act 2023 (the Act) to add the following: General provisions allowing for the charge of interest in respect of tax and tax due, as well as the imposition of civil penalties; Specific civil penalty provisions for the following: failure to register - a penalty not exceeding BBD 10,000 failure to file a return...