Cook Islands says it will meet G20 tax call
Jemima Garrett
Last Updated:
Cook Islands says meeting stricter G20 requirements for tax havens is a priority.
The Deputy Prime Minister and Finance Minister, Sir Terepai Maoate, says he welcomes the call from the Group of 20 leading industrial nations for more transparency in the international flow of tax information.
Sir Terepai says he has instructed his officials to place a priority on making the legislative amendments necessary for Cook Islands to enter into tax-sharing agreements.
Agreements will then have to be negotiated separately with each G20 country.
Financial supervisory commissioner, Lorraine Allan, says with only six crown law officers to meet all of Cook Islands legal needs, it will be hard to meet the G20 deadline.
She says she would like to see some assistance from the OECD.
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