New Zealand

Cook Islands increases VAT to 15%

January 11th, 2014

The New Zealand dependency of the Cook Islands will raise its standard VAT rate from 12.5% to 15% from 1 April 2014. The dominant tourist industry will be allowed to make credit amendments going back to 1 November 2013 for any sales VAT. The Cook Island’s VAT regime is similar to the OECD recommended model, …