Tax Reform & Cost of Living - PLP Accomplishments

  1. Reduced payroll taxes for working families to the lowest level in history, saving the average family $2,000 a year in payroll taxes. 
  2. Customs duty:
    • Reduced the duty rate from 5% to 0% for eggs, potatoes, cauliflower, broccoli, carrots, turnips, oranges and apples. 
    • Reduced the duty rate on clothing, household linens, and shoes. 
    • Provided duty relief to sporting clubs and youth programmes. 
  3. Implemented payroll tax incentives for the creation of jobs in Bermuda, which supported the creation of 550 new jobs. 
  4. Granted new entrepreneurs a one-year tax holiday.
  5. Eliminated employer payroll taxes for the disabled. 
  6. Granted additional powers to the existing Price Control Commission to investigate prices.
  7. Changed laws to require retailers to provide pricing information on staple items.