Tax haven no. 1. There are no taxation of corporate income or capital gains taxes on Bermuda. Many MNE's within the IT sector uses a combination of subsidiaries in Ireland, the Netherlands and Bermuda to reduce its taxes (Double Duch Irish Sandwich) U.S. multinational companies have placed large amounts of money in Bermuda, notably recording profits of $80 billion in 2012. Bermuda is now subject to new international disclosure requirements.