The Government of Bermuda has issued four new frequently asked questions focusing on certain determinations under the Corporate Income Tax Act.  The guidance clarifies certain items related to asymmetric foreign currency gains or losses, fiscal transparency classifications, the taxable distribution method election, and adjustments to financial accounting net loss or income for certain debt releases. Executive summaryOn 18 November 2024, the Government of Bermuda released additional guidance concerning frequently asked questions (FAQs) on certain determinations under the Corporate Income Tax Act (CIT Act). The new guidance adds four FAQs to the previous lists of FAQs issued on and after 18 December...