CITA New Changes– Economic Substance & Automatic Exchange of Information

Dear Stakeholders,

CITA New Changes– Economic Substance & Automatic Exchange of Information

Welcome to the Corporate Income Tax Agency (CITA)!

CITA has assumed responsibility for the administration of Economic Substance and the Automatic Exchange of Information. This strategic decision was primarily informed by the introduction of Corporate Income Tax in Bermuda and the recognition that the administration of the international tax compliance function is more appropriately aligned with the responsibilities of a dedicated tax agency. 

Economic Substance

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 transfered from the Registrar of Companies (ROC) to CITA.

All existing obligations of in-scope entities under the economic substance regime remain unchanged, and therefore in-scope entities should continue to comply with all requirements and filing deadlines. Filings and operational processes, including the method and location for making economic substance declarations, remain unchanged and therefore will continue uninterrupted until further instruction is provided. Please visit ROC website at https://www.registrarofcompanies.gov.bm to file your economic substance declarations.

Correspondence in connection with the economic substance regime should be directed to our new dedicated email account at essupport@cita.bm.  

Common Reporting Standard (CRS) & Country-by-Country Reporting (CbCR)

Effective March 13, 2026, the Minister of Finance has 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.   

All existing obligations for Financial Institutions and in-scope Multinational Enterprise Groups remain unchanged.  Further, filings and operational processes, including the method and location for submitting the CRS and CbCR reports will continue uninterrupted until otherwise advised. Please visit https://bdaaeoi.bm to file your annual reports.

Correspondence should be directed to our new dedicated support email account at supportexchange@cita.bm. No further correspondence should be directed to bermudataxinformationreporting@gov.bm. Any correspondence by mail should be sent to the:

Corporate Income Tax Agency
Wellesley House South
1st Floor
90 Pitts Bay Road
Pembroke HM08
Bermuda