Public Input Sought On Tax Amendments
The Corporate Income Tax Agency [CITA] released a consultation paper seeking public feedback on proposed technical amendments to the Corporate Income Tax Act 2023 and a minor revision to the Corporate Income Tax Agency Act 2024.
A Government spokesperson said, “An illustrative draft bill is included for reference.
“The proposed amendments aim to clarify specific provisions, align the Act more closely with the GloBE Rules where appropriate, and incorporate updates reflecting Administrative Guidance issued since the Act’s original enactment.
“CITA acknowledges that some stakeholder feedback has already been considered and, where relevant, incorporated into the draft legislation. Through this public consultation, CITA invites further input on the revised illustrative draft and suggestions for any additional guidance needed to support implementation.
“The consultation period will run from 29 May 2025 to 19 June 2025, and submissions received after the deadline will not be considered. Please email responses to consultation@cita.bm with “Corporate Income Tax Act Technical Amendments” in the subject line.
“The Government encourages all stakeholders to review the proposals and provide comments or suggestions to help strengthen the legislative framework.”
The technical amendments public consultation follows below [PDF here]:
“seeking public feedback on proposed technical amendments to the Corporate Income Tax Act 2023 and a minor revision to the Corporate Income Tax Agency Act 2024″
Does the PLP Government really believe that members of the public have the technical knowledge to meaningfully comment on complex tax legislation and the workings of the Income Tax Agency?
Why is the PLP Government not “seeking public feedback” on the workings of the Post Office or the Department of Immigration?
No different than believing that members of the public have the technical knowledge to meaningfully comment on complex “green energy,” electric vehicle policy, and offshore wind farms. The decisions have already been made; the consultations are a formality.
Do you mean “formality” or “publicity exercise”?
From the government’s point of view, the consultations are a nuisance, but they must be done. From my experience, the outcomes are often decided before seeking the public’s opinion.
I asked my contact at the RA for the criteria to cancel the offshore wind farm debacle. Cost, environmental damage, public outrage, etc. Never received a reply. The consultation should have been scrapped for several reasons. We can only hope no vendors show any interest.