CITA Assumes New Compliance Roles
The Bermuda Corporate Income Tax Agency [CITA] announced that it has “officially assumed responsibility for administering Bermuda’s Economic Substance regime and Automatic Exchange of Information framework.”
A spokesperson said, “Effective March 13, 2026, the Minister of Finance designated CITA as the Competent Authority under the International Cooperation [Tax Information Exchange Agreements] Act 2005 and the U.S.A.–Bermuda Tax Convention Act 1986.
“In addition, effective March 31, 2026, following the passage of the Economic Substance Amendment Act 2026, responsibility for the administration, monitoring and enforcement of Bermuda’s economic substance regime transferred from the Registrar of Companies [ROC] to CITA. The transition places Bermuda’s tax and international compliance functions within a dedicated agency, bringing related responsibilities together within a single institutional framework.
“The assumption of these responsibilities by CITA reflects a natural and strategic alignment with the Agency’s mandate to oversee and administer Bermuda’s corporate tax regime fairly and effectively. This represents an important step in supporting the jurisdiction’s commitment to transparency, regulatory integrity, and effective engagement with international compliance standards.
“All filing requirements, deadlines, and related processes remain unchanged and will continue to be accessed through the Registrar of Companies’ website until further notice.
“Queries and correspondence related to Economic Substance should be submitted to CITA’s new dedicated support email address at essupport@cita.bm and for the Automatic Exchange of Information to exchangesupport@cita.bm.”
