24 Jun 2015

Cooks Govt looks to cut income tax

4:00 pm on 24 June 2015

The Cook Islands Government says it is looking at reducing income tax.

The Finance Minister, Mark Brown, says amendments to the Income Tax Act passed last week means the Government won't "double-dip" by taxing trustees and beneficiaries of trusts.

He says income tax will be reduced in a considered manner, and a person earning $26,000 a year will receive a reduction of their tax burden by $150 on January the 1st next year and a further $75 the following year.