Hashtag: #2016Budget
Chamber Of Commerce Response To Budget
“Our initial thoughts are that the budget was well thought out and continues progress towards improving Bermuda’s finances” however “measurable improvements will not be felt any time soon,” President of the Chamber of Commerce John Wight said following this morning’s [Feb 19] budget. Mr Wight said, “We were pleased with... Read more of this article
PwC Release 2016 Budget Highlight Summary
Following the delivery of the 2016/17 Budget this morning [Feb 19] by Minister of Finance Bob Richards, PwC Bermuda released a highlight summary sheet. Tom Miller, Managing Director, PwC Bermuda, said, “The Minister points out that there are many people still not yet feeling the economic recovery and the tax burden will need to be restructured... Read more of this article
Live Updates: Finance Minister Delivers Budget
[Updating] Finance Minister Bob Richards is set to deliver the 2016 Budget in the House of Assembly this morning [Feb 19], which will set out the Government’s financial plans for the upcoming fiscal year. This will be the fourth budget devised by Minister Richards since the OBA’s victory at the polls in 2012, following after the 2013/14 Budget... Read more of this article
Budget: America’s Cup Spending & Revenue
The total Government budget for America’s Cup related expenses during the 2016/17 fiscal year will be $24 million, Finance Minister Bob Richards said in today’s Budget Speech, adding that the hotel, retail, transportation and restaurant sectors reported healthy spikes over the World Series event and “it is anticipated that total additional... Read more of this article
Budget: Tax Increases & New Service Sales Tax
In 2016/17, the Government will increase Payroll Tax, Customs Duty on fuel, tobacco and alcohol as well as implement a new services sales tax at a rate of 5%, Finance Minister Bob Richards said in today’s Budget Speech. New GST Tax Of 5% As far as the new General Services Tax, the relevant portion of the Budget Speech said, “Mr. Speaker, in order... Read more of this article
Deloitte Release 2016/17 ‘Budget Snapshot’
Following the delivery of the 2016 Budget by Finance Minister Bob Richards this morning [Feb 19] in the House of Assembly, Deloitte released a ‘Budget Snapshot’, which highlights some of the key points from the Budget Speech, and follows in full below. You can also click here to view our live blog, and click here to view all our coverage of the... Read more of this article
Summary Of 2016-2017 Bermuda Budget
[Written by Don Burgess] Payroll, alcohol, tobacco, gas and vehicles taxes will increase; Customs Duties will get simpler; and a tax on services were all part of the 2016-17 Budget Speech delivered by Finance Minister Bob Richards today. The speech, heavy laden with references to getting Bermuda out of debt and to a balanced budget by 2018-19, announced... Read more of this article
Full Document: 2016-2017 Budget Speech
This morning [Feb 19], Finance Minister Bob Richards delivered the 2016 Budget in the House of Assembly, which details Government’s financial plans for the upcoming fiscal year. The Minister announced a number of items, including that a new General Services Tax will be levied on turnover from the provision of most services by service providers to... Read more of this article
Charts Only: 2016-2017 Bermuda Budget
For those seeking a quick visual view of the 2016 Budget delivered in the House of Assembly by Finance Minister Bob Richards this morning [Feb 19], the charts extracted from the Budget are below. For comparison’s sake, charts from the 2015 Budget are here, charts from the 2014 Budget are here, charts from the 2013 Budget are here, charts from... Read more of this article
Chamber’s “Wishlist” For Upcoming Budget
“The only way to continue to reduce the budget deficit is to work at both increasing revenues and reducing expenses simultaneously,” Chamber of Commerce President John Wight said. Speaking in advance of Friday’s upcoming budget, Mr Wight said, “Government has a very challenging job to narrow the 2016 / 2017 year deficit in order to meet... Read more of this article
