Author/Editor:

International Monetary Fund. Asia and Pacific Dept

Publication Date:

August 14, 2019

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The Pacific Financial Technical Assistance Centre was approached to estimate how international companies, and the wider international financial services industry, contribute to the Cook Islands’ economy and revenue collection. This report discusses the data and methodology used and presents the results. One matter that has been raised is that international companies are exempt from all taxes in the Cook Islands. The economic contribution of the international financial services industry can be measured by the value added of resident institutional units engaged, directly or indirectly, in the production of international financial services in the Cook Islands. The production of international financial services generates income which is distributed to the various agents or groups of agents who use that income to acquire goods and services for consumption now or later.

Series:

Country Report No. 19/270