22 Jul 2011

Cook Islands insurer gets hefty fine for not paying income tax

3:26 pm on 22 July 2011

A Cook Islands insurance company has been fined more than 16 thousand US dollars for failing to pay income tax over a period of ten years.

The Rarotonga Insurance Agency admitted ten charges of failing to furnish income tax from 2000 to 2009.

In the Cook Islands High Court at Rarotonga this week the company was convicted and sentenced by Justice Colin Nicholson.

It was also ordered to pay court costs of 260 dollars.