Bermuda vs Canada
Corporate Tax Comparison
Time of Update: Bermuda: 3/24/2026 / Canada: 4/04/2026
Compare Bermuda and Canada corporate tax rates, filing due dates, withholding tax, VAT, capital gains tax, and effective tax metrics for cross-border company planning.
Bermuda vs Canada Corporate Tax Comparison
Basic Corporate Tax Comparison
Corporate Income Tax (CIT)
Bermuda
Canada
General CIT Rate:
15% (if subject to Bermuda CIT) or 0%.
General CIT Rate:
Federal corporate income tax: 15%. Provincial and territorial CITs range from 8% to 16%.
CIT Return Due Date:
If subject to Bermuda CIT, tax returns are proposed to be due by the 15th day of the 10th month following the fiscal year-end.
CIT Return Due Date:
After six months from the end of the company's fiscal year.
CIT Payment Due Date:
Upon filing the CIT return (if applicable), a 'true-up' payment considering previous estimated payments must be made no later than the due date of the return, regardless of when the return is filed.
CIT Payment Due Date:
Typically, two months after the end of the company's tax year.
CIT Estimated Payment Due Date:
Taxes are paid in instalments.
The first instalment is proposed to be due by the 15th day of the 8th month after the beginning of the fiscal year, amounting to 50% of the expected tax liability for the year.
The second instalment is due by the 15th day of the 12th month after the beginning of the fiscal year, bringing the total instalments to 90% of the expected tax liability for the year.
The first instalment is proposed to be due by the 15th day of the 8th month after the beginning of the fiscal year, amounting to 50% of the expected tax liability for the year.
The second instalment is due by the 15th day of the 12th month after the beginning of the fiscal year, bringing the total instalments to 90% of the expected tax liability for the year.
CIT Estimated Payment Due Date:
Tax installment payments are usually due on the last day of each month.
Withholding Tax (WHT)
Bermuda
Canada
Resident Withholding Tax (Dividend/Interest/Royalty):
0
Resident Withholding Tax (Dividend/Interest/Royalty):
N/A
None-Resident Withholding Tax (Dividend/Interest/Royalty):
0
None-Resident Withholding Tax (Dividend/Interest/Royalty):
25/25/25
Value-Added Tax (VAT)
Capital Gain Tax (CGT)
Bermuda
Canada
General Capital Gain Tax Rate:
There is no VAT or sales tax in Bermuda.
General Capital Gain Tax Rate:
Half of the capital gains are considered as taxable capital gains, recorded as company income and taxed at the regular tax rate.
Effective Tax Rate (ETR)
Bermuda
Canada
Composite Effective Average Tax Rate:
0
Composite Effective Average Tax Rate:
23.74
Composite Effective Marginal Tax Rate:
0
Composite Effective Marginal Tax Rate:
13.74
