Payroll Tax Concessions & New Hire Extended

February 26, 2022 | 5 Comments

The payroll tax concessions for hotels, restaurants, bars and nightclubs will be extended for at least another six months and the ‘New Hire Relief’ will be extended for a further two years.

Extension of Payroll Tax Concessions for Hotel & Restaurant Industry

In delivering the 2022 Budget, Premier David Burt said, “Mr. Speaker, since the onset of the pandemic, hotels, restaurants, bars and nightclubs have enjoyed relief from payroll taxes. These payroll tax concessions will be extended for at least another six months to support these businesses, and their employees, as they look to recover during this summer season.

Extension of New Hire Relief

“In 2018 the Progressive Labour Party Government introduced incentives for businesses to employ more persons in Bermuda. This relief was targeted at international businesses and large local employers to create jobs in Bermuda.

“This New Hire Relief was further extended in 2020, but it is set to expire on March 31 2022. This relief will be extended for a further two years to support hiring in the local economy and is applicable to local and international companies with annual remuneration of $500,000 or more.”

click here Bermuda 2022 Budget

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Comments (5)

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  1. Sirjohnsyacoola says:

    Hey Mr egomeir you forgot to budget for the savvy entertainer and the doctor..
    Oh never mind

  2. Hey says:

    What is being done to promote Bermuda as a destination? Will less hotel beds than before, why is government not promoting Air bnb guest houses and the alternative get away.

    Why is there no single website for adventures, tours, Bermuda flavor.

    Where are the romantic stories of Bermuda, the walks along south shore beaches, the reviews of this quaint and wonderful nuggets of Bermuda characters and escapes. Why is that not published and encouraged globally.

    Where is the promised lose yourself in the Bermuda Triangle campaign and leveraging the mysteries of that phenomenon.

    Wake up, tourism under Burt and the PLP failed, Too damned busy tinkering without direction. We need to demand better for our country. Americas cup had a huge impact for Bermuda globally and then the PLP destroyed all the future benefits from large private wealthy people coming to the island by their political rhetoric. Stupid move.

    I demand better for Bermuda, PLPI want results not rhetoric, stop failing Bermudians by your ineptitude. If you can’t fix it, stop damaging it, step down and let people in who can. Bermudian’s livelihoods and future depend on it. We need to promote ourselves as the best destination in the world, not just tinker with things.

    • sandgrownan says:

      Nothing. Remember, Burt is in charge. Jeffers is merely his proxy.

      So nothing.

  3. Triangle Drifter says:

    At one point Bermuda had Ambassadors. No, I am not talking about taxis drivers. They lost that title long ago.

    I am talking about people, volunteers, mostly retired people, who worked the airport welcoming visitors upon arrival & taking surveys & thanking them for their visits in the departure lounges.

    The surveys were passed on to the DOT with the idea being that problems could be pinpointed & what the visitor really thought could be used to improve the product.

    That cost effective program went out the window long long ago in favour of ‘experts’ who use fancy phrases like “rebranding” but have little idea of Bermuda from their US offices.

  4. Joe Bloggs says:

    “In 2018 the Progressive Labour Party Government introduced incentives for businesses to employ more persons in Bermuda. This relief was targeted at international businesses and large local employers to create jobs in Bermuda.”

    NO! We do NOT want more foreigners! Rev. Genevieve, where are you and the People’s Campaign?

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