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BM Tax 2023

Bermuda Tax Tables 2023 - Tax Rates and Thresholds in Bermuda

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This page contains the tax table information used for the calculation of tax and payroll deductions in Bermuda in 2023. These tax tables are used for the tax and payroll calculators published on iCalculator™ BM, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Bermuda or would like to add to or suggest amendments to the information herein then please contact us.

Bermuda Personal Income Tax Tables in 2023

The Income tax rates and personal allowances in Bermuda are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Bermuda Tax Calculator 2023.

Bermuda Residents Income Tax Tables in 2023
Personal Income Tax Rates and Thresholds (Annual)
Tax RateTaxable Income Threshold
0.5%Income from $ 0.000.00to $ 48,000.00
9.25%Income from $ 48,000.01 to $ 96,000.00
10%Income from $ 96,000.01 to $ 200,000.00
11.5%Income from $ 200,000.01 to $ 500,000.00
12.5%Income from $ 500,000.01 to $ 1,000,000.00
0%Income from $ 1,000,000.01 and above
Bermuda Non-residents Income Tax Tables in 2023
Personal Income Tax Rates and Thresholds (Annual)
Tax RateTaxable Income Threshold
0.5%Income from $ 0.000.00to $ 48,000.00
9.25%Income from $ 48,000.01 to $ 96,000.00
10%Income from $ 96,000.01 to $ 200,000.00
11.5%Income from $ 200,000.01 to $ 500,000.00
12.5%Income from $ 500,000.01 to $ 1,000,000.00
0%Income from $ 1,000,000.01 and above

Bermuda Social Security and Payroll Deduction Rates in 2023

Bermuda Social Security in 2023: Rates for Employers and Employees
CategoryEmployeeEmployerTotal
Payroll Tax0%1%1%
Payroll Tax0%2.5%2.5%
Payroll Tax0%5.25%5.25%
Payroll Tax0%7.5%7.5%
Payroll Tax0%10%10%
National Pension Scheme (NPS)100%100%200%
Bermuda Social Security and Payroll Deduction in 2023: Earnings Thresholds for Employers and Employees
CategoryEmployeeEmployer
Min.Max.Min.Max.
Payroll Taxn/an/an/a$ 200,000.00
Payroll Taxn/an/a$ 200,000.00$ 350,000.00
Payroll Taxn/an/a$ 350,000.00$ 500,000.00
Payroll Taxn/an/a$ 500,000.00$ 1,000,000.00
Payroll Taxn/an/a$ 1,000,000.00n/a
National Pension Scheme (NPS)n/a$ 1,867.84n/a$ 1,867.84

Historic Tax Tables supported for Bermuda

The following tax tables are supported by iCalculator™ BM as part of the suite of free tax tools we provide for Bermuda.