COOK ISLANDS THRIVING AS TAX HAVEN

admin's picture

RAROTONGA, Cook Islands July 15, 1998 - Radio Australia)---Finance Minister Papamamo Pokino says the Cook Islands is thriving as a tax haven despite Asia's economic crisis.

Income from fees is up 25 percent at Rarotonga's offshore financial center, he said, which is "higher than estimated."

The minister also noted that offshore industry "will be further strengthened in a very competitive market" by planned restructuring.

The Cooks has never reported publicly its tax haven earnings, but several years ago Prime Minister Sir Geoffrey Henry said the Cooks received over $1.2 million annually in fees alone.

Rate this article: 
No votes yet

Add new comment