General

Betting Duty is a duty charged on bets. The duty is charged under the authority of the Betting Act 1975 and the Miscellaneous Taxes Act 1976.

Scope

Betting Duty is charged on all bets made, received or negotiated by a person licensed under the Betting Act 1975. Persons licensed generally include bookmakers or pool betting agents who negotiate bets.

Registration

Every bookmaker or pool making agent is required to apply to the Tax Commissioner for registration within seven days after the close of the tax period in which he first becomes chargeable to duty.

Rate

The duty is charged at the rate of 20% on all bets made, received or negotiated by licensed persons.

Payment

Every person responsible for the payment of Betting Duty shall pay the duty payable in respect of bets received or negotiated by him in the course of any week,  upon close of business at the end of that week, or as soon as practicable thereafter.

Penalties

Tax returns filed late or underpaid are subject to a penalty. If tax, further tax, or additional tax is not paid at or before the time fixed by or under the legislation, a penalty for late payment will be levied. The penalty is 5% of the tax due, for each month or part of a month that the tax is unpaid or underpaid, to a maximum of 30%. An additional tax equivalent to the amount of tax may also be levied.

Note

The information contained on this page is merely a guide for the taxpayer and is not a comprehensive statement of the Legislative requirements. These requirements are contained primarily in the Betting Act 1975, the Miscellaneous Taxes Act 1976, The Taxes Management Act 1976 and the Miscellaneous Taxes (Rates) Act 1980 as amended.  Bermuda Laws Online can be accessed at www.bermudalaws.bm. 

Enquiries

Further enquiries may be made by contacting us.

[Return to top]

[Return to guide]