Offshore banking The government briefly considered offshore banking. Under pressure from the US Treasury, Niue agreed to end its support for schemes designed to minimise tax in countries like New Zealand. Niue provides automated Companies Registration, administered by the New Zealand Ministry of Economic Development. The Niue Legislative Assembly passed the Niue Consumption Tax Act in the first week of February 2009, and the 12.5% tax on goods and services was expected to take effect on 1 April 2009. Income tax has been lowered, and import tax may be reset to zero except for "sin" items like tobacco, alcohol and soft drinks. Tax on secondary income has been lowered from 35% to 10%, with the stated goal of fostering increased labour productivity.
Offshore banking The government briefly considered offshore banking. Under pressure from the US Treasury, Niue agreed to end its support for schemes designed to minimise tax in countries like New Zealand. Niue provides automated Companies Registration administered by the New Zealand Ministry of Economic Development. The Niue Legislative Assembly passed the Niue Consumption Tax Act in the first week of February 2009, and the 12.5% tax on goods and services was expected to take effect on 1 April 2009. Income tax has been lowered and import tax may be reset to zero except for "sin" items like tobacco, alcohol and soft drinks. Tax on secondary income has been lowered from 35% to 10%, with the stated goal of fostering increased labour productivity.