Public Treasury (Administration and Payments) Act 1969 and Audit Act 1990

Bermuda's national fiscal transparency framework is anchored by the Public Treasury (Administration and Payments) Act 1969 and the Audit Act 1990, operating under the Bermuda Constitution Order 1968 (ss.88-99). The annual budget cycle (July-June) produces a Budget Statement (1.88 MB), Pre-Budget Report (462 KB, public consultation), and Approved Estimates of Revenue and Expenditure (4.35 MB) confirmed available on gov.bm back to 2016-2017; audited Consolidated Fund financial statements are available back to 2001. As a UK Overseas Territory and major international financial centre (IFC), Bermuda operates a Fiscal Responsibility Panel (FRP) — a formally constituted independent advisory body publishing annual fiscal strategy assessments (2016-2025 confirmed at gov.bm/fiscal-responsibility-panel) that functions as Bermuda's OBR-equivalent IFI. Bermuda is one of the few small jurisdictions with a standalone Whistleblower Protection Act 2017 and strong beneficial ownership registers (Beneficial Ownership (Partnerships) Act + BMA registries) driven by FATF/OECD Global Forum compliance. PATI 2010 (effective 2013) mandates proactive disclosure of government salary information. Bermuda is not covered by IBP OBS, PEFA, or IMF (UK Overseas Territory status). No income tax, corporate tax, or capital gains tax. Currency: Bermuda Dollar (BMD), fixed 1:1 to USD. Score: 65/100.

Transparency Requirements