Bermuda or Portugal: which taxes less?

Both tax systems side by side, headline rates and the gap between them.

Lighter: Bermuda, ahead by 6.3 FiScore points.

Tax Bermuda Portugal Gap
Corporate income tax headline rate 0% 19% −19.0 points
Personal income tax top bracket 0% 12.5% −12.5 points
VAT standard rate 0% 23% −23.0 points

Detailed schedules

Corporate income tax

Bermuda

Standard companies 0%
Multinational groups revenue over €750 M, since 2025 15%

Portugal

General regime 18% in 2027, 17% in 2028 19%
SMEs: first €50,000 of profit 15%

Personal income tax

Bermuda

No personal income tax 0%

Portugal

Up to EUR 8,342 mainland scale, 2026 12.5%
EUR 8,342 to 12,587 15.7%
EUR 12,587 to 17,838 21.2%
EUR 17,838 to 23,089 24.1%
EUR 23,089 to 29,397 31.1%
EUR 29,397 to 43,090 34.9%
EUR 43,090 to 46,566 43.1%
EUR 46,566 to 86,634 44.6%
Above EUR 86,634 plus a solidarity levy of 2.5% above EUR 80,000 and 5% above EUR 250,000 48%
See the Bermuda page See the Portugal page