Taxation in Cook Islands

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Minister of Revenue Todd McClay has welcomed a decision by the Cook Islands government to implement the ‘Automatic Exchange of Financial Account Information in Tax Matters Agreement’ (AEOI) and says the Cooks Islands and New Zealand will play their part to target international tax avoidance.

The Cook Islands government says it is encouraging superannuants refusing to pay taxes on their New Zealand pensions to set up small payments to keep up with what’s owed.

Whatever implication the word ‘tax haven’ has on the credibility of a country, Cook Islands is not amused at recent allegations that it fits the ‘tax haven’ description.

A New Zealand investigative journalist says he was threatened with arrest if he arrived in Cook Islands to give a lecture about the workings of the country’s tax haven.

The Cook Islands government is to increase the tax on tobacco in the next budget.

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