Bermuda or Switzerland: which taxes less?

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

Lighter: Bermuda, ahead by 5.6 FiScore points.

Tax Bermuda Switzerland Gap
Corporate income tax headline rate 0% 11.66% to 20.54% −20.5 points
Personal income tax top bracket 0% 0% to 13.2% −51.0 points
VAT standard rate 0% 8.1% −8.1 points

Detailed schedules

Corporate income tax

Bermuda

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

Switzerland

Lucerne combined federal, cantonal and communal effective rate 11.66%
Zug 11.71%
Geneva 14.7%
Zurich 19.47%
Bern 20.54%
Multinational groups revenue above €750M, since 2024 15%

Personal income tax

Bermuda

No personal income tax 0%

Switzerland

Up to CHF 15,200 federal scale, single taxpayer, 2026 0%
CHF 15,200 to 33,200 0.77%
CHF 33,200 to 43,500 0.88%
CHF 43,500 to 58,000 2.64%
CHF 58,000 to 76,200 2.97%
CHF 76,200 to 82,100 6.6%
CHF 82,100 to 108,900 6.6%
CHF 108,900 to 141,500 8.8%
CHF 141,500 to 185,100 11%
CHF 185,100 to 793,900 13.2%
Over CHF 793,900 the overall federal rate is capped at 11.5% 11.5%
See the Bermuda page See the Switzerland page