CITA Opens Consultation On Tax Amendments
The Corporate Income Tax Agency has launched a public consultation on the second set of proposed technical amendments to the Corporate Income Tax Act 2023, seeking stakeholder feedback from September 12 to 26.
A spokesperson said, “The Corporate Income Tax Agency [CITA] has launched a public consultation to gather stakeholder feedback on the second set of proposed technical amendments to the Corporate Income Tax Act 2023 [“the CIT Act”]. These amendments aim to clarify specific provisions and improve alignment with the OECD’s GloBE Rules.
“CITA has already considered some stakeholder feedback and incorporated relevant changes into the draft legislation. Through this consultation, the Agency seeks further feedback on the revised draft and suggestions for any additional guidance needed to support implementation.
“The consultation period will run from 12 September to 26 September 2025. Submissions should be emailed to consultation@cita.bm with the subject line: “Corporate Income Tax Act – Second Technical Amendments”.”
The CITA Second Public Consultation follows below [PDF here]:
I propose that 1.7525% of all these corporate income taxes collected automatically be electronically deposited into my bank account weekly and be free of any further taxation. Mondays would be the best day for the deposits.
1.7525% of nothing is still nothing. And no, that is not “new maths”.