CITA Launches ‘CITA Online’ Digital Platform
The Corporate Income Tax Agency has launched CITA Online, a new digital platform to support Bermuda’s corporate income tax regime.
A spokesperson said, “The Corporate Income Tax Agency [CITA] is pleased to announce the official launch of CITA Online, a secure and user-friendly digital platform developed to support Bermuda’s newly introduced corporate income tax regime.
“CITA Online enables corporate taxpayers to:
- Obtain a Tax Identification Number [TIN].
- Submit corporate income tax payments.
- Appoint Authorised Representatives.
“CITA Online has been built to support the launch of the new corporate income tax regime, offering businesses a streamlined and modern way to meet their obligations from day one.”
“The launch of CITA Online marks a pivotal moment in our journey,” said Mervyn Skeet, Chief Executive Officer of the Corporate Income Tax Agency. “We are proud to introduce a digital-first solution that empowers businesses to meet their obligations with confidence and ease.”
The spokesperson said, “CITA encourages all eligible entities to visit cita.bm and begin fulfilling their tax obligations.
“This launch reflects CITA’s commitment to digital innovation, operational excellence, and building trust with stakeholders from the outset.”
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I wonder what the impact will be for Bermuda?
What is next after Washington exits the OECD global tax plan? Geopolitical Intelligence Services AG June 5, 2025
The decision by the administration of United States President Donald Trump to formally withdraw the U.S. from the Organisation for Economic Co-operation and Development’s (OECD) global tax agreement marks a turning point in international tax coordination. The move, however, is not a surprise. Congressional Republicans and President Trump have never supported the OECD’s Inclusive Framework. They viewed a global minimum tax of 15 percent on entities with revenues of at least 750 million euros annually as European-led overreach that undermines U.S. sovereignty. Nevertheless, the American withdrawal will have far-reaching implications, adding new uncertainty to how multinational corporations are taxed and raising long overdue questions about the future of international tax cooperation.
If the companies here can’t figure out a way to move things around the globe to avoid this tax, then they should probably close up shop.
I expect very few dollars coming in from CIT.
“I expect very few dollars coming in from CIT.”
I expect none.