On Friday, February 21, 2020, the Honourable Curtis Dickinson JP, MP in presenting his second budget, where he has reaffirmed Bermuda’s commitment to growing the economy while continuing to ensure fiscal sustainability and careful management of the National Debt. Proposed changes to the 60:40 rule are aimed at stimulating greater levels of foreign investment and there are Payroll Tax reductions for the lowest earners and for certain employers, to encourage growth for small and medium-sized businesses.
