CITA Launches Public Consultation on the Corporate Income Tax Regulations 2025 and the introduction of Tax Credits Act 2025

The Corporate Income Tax Agency is publishing this consultation paper to invite stakeholder feedback with respect to amendments to the Corporate Income Tax (Administrative) Regulations 2025 and to new regulations governing administrative aspects of the Tax Credits Act 2025. While the changes to the Corporate Income Tax (Administrative) Regulations 2025 will be of interest primarily to corporate income taxpayers, the regulations in respect of the Tax Credits Act 2025 will be relevant to all entities intending to claim a tax credit under the Tax Credits Act 2025, including both corporate income taxpayers and those who are not in scope for corporate income tax.

Illustrative draft bills are included for reference. These amendments aim to clarify specific provisions within the proposed regulations.

CITA has already considered some stakeholder feedback and incorporated relevant changes into the draft legislation. Through this consultation, the Agency seeks feedback on the drafts and suggestions for any additional guidance needed to support implementation.

The consultation period will run from 13 May 2026 to 3 June 2026. 

Consultation Paper responses and comments should be submitted by email to: consultation@cita.bm .Respondents should include “CIT and TCA – Administrative Provisions” in the subject title. Media enquiries should be addressed to: media@cita.bm.

Download the Consultation Paper HERE.