Bermuda
Overview of CbC reporting requirements
Bermuda has fully implemented the BEPS Action 13 (CbC reporting) minimum standard and meets all of the terms of references it is evaluated against.
First reporting fiscal year: Commencing on or after 1 January 2016
Consolidated group revenue threshold: EUR 750 million
Filing deadline: 12 months following the end of the reporting fiscal year
The domestic legal and administrative framework
Bermuda confirms that its rules have not changed and continue to be applied effectively. Bermuda continues to meet all terms of reference.1
The exchange of information framework
Bermuda confirms that its rules have not changed and continue to be applied effectively. Bermuda continues to meet all terms of reference.
Appropriate use of CbC reports
Bermuda is a non-reciprocal jurisdiction and, as such, will not receive CbC reports submitted to tax authorities in other jurisdictions, and will not apply local filing. It is therefore not necessary for this peer review evaluation to reach any conclusions with respect to Bermuda’s compliance with the terms of reference on appropriate use.
Note
← 1. Bermuda’s 2017/2018 peer review included a monitoring point relating to the interpretation of the definition of “Revenue – Unrelated Party” and “Revenue – Related Party”. This monitoring point remains in place.