Cooks Islands Tax Revenue Doubles Over Five Years

by Mary Swire, Tax-News.com, Hong Kong

29 January 2003

Finance Secretary for the Cook Islands, Kevin Carr announced recently that taxation revenue has almost doubled in the jurisdiction over the last five years.

Citing tourism, the pearl industry and the fishing sector as the driving forces behind the economy of the Cooks, Mr Carr also reported a 1.5% increase in economic growth, and predicted that the Islands can achieve growth levels of 3.2% per year in the long-term.

However, he warned that the current economic uncertainty and the threat of war with Iraq could damage the jurisdiction's prospects for the future.

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