Taxation Statistics – September Quarter 2024
The Taxation Statistics series is a quarterly publication presenting Value Added Tax (VAT) data for the Cook Islands. The series examines VAT collected on sales of goods and services and income, in relation to purchases of goods and services across all industries. These statistics provide an indicator of economic activity and consumption patterns within the economy.
Key Facts – September Quarter 2024
- Gross turnover across all industries reached $321.9 million, increasing 9.6 per cent from the June quarter 2024 and 10.0 per cent from the September quarter 2023, indicating broad-based growth in economic activity during the quarter.
- Total VAT collected on sales and income was $37.9 million, up 8.5 per cent on the previous quarter and 9.3 per cent year-on-year, broadly tracking the rise in gross turnover and reflecting stronger consumption and business activity.
- VAT growth was slightly lower than turnover growth, suggesting stable pricing conditions and consistent tax compliance across industries, with no significant changes in tax behaviour.
- Overall results for the September quarter 2024 indicate continued economic expansion, supported by increased production, sales, and consumption across the majority of industries.
