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\par 2. Interpretation
\par 3. }{\fs24\insrsid8004175 "}{\fs24\insrsid14494463 Businesses}{\fs24\insrsid8004175 "}{\fs24\insrsid14494463 , }{\fs24\insrsid8004175 "}{\fs24\insrsid14494463 engaging}{\fs24\insrsid8004175 "}{\fs24\insrsid14494463  in business defined
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{\fs24\insrsid14494463  defined
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\par 11. Tax year
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\par 12. Registration as wholesale purchaser
\par 13. Registration as wholesale service user
\par 14. Variation of registration
\par 15. Cancellation of registration
\par 16. Appeals
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\par }{\fs24\insrsid14494463 17. Turnover tax
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\par 19. Tax upon services
\par 20. Tax upon contractors
\par 21. }{\fs24\insrsid15101865 Tax upon theatres, amusements, and radio broadcasting stations etc.}{\fs24\insrsid14494463 
\par }{\fs24\insrsid15101865 22. Tax upon sales representatives or purchasing agents 
\par 23. Tax upon licensed tourist business
\par 24. Tax on banking business
\par 25. Tax on shipping and airline shipping
\par 26. Tax on insurance business
\par 27. Tax on export sales
\par 28. Tax on other business
\par 29. Segregation of gross income etc on records and in returns
\par 30. Further provisions as to application of tax
\par 31. Consideration paid not indicative of true value
\par 32. Principles applicable in certain situations
\par 33. Apportionment
\par 34. Amounts not taxable
\par 35. Exemption of low turnover
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid10630811\charrsid14494463 35A. }{\fs24\insrsid15101865 Exemption from turnover tax
\par }{\fs24\insrsid10630811\charrsid14494463 36.}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 Agents in the case of absentees
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15101865 {\fs24\insrsid15101865 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11549023 {\b\fs24\insrsid12125452 PART IV - RETURNS AND }{\b\fs24\insrsid15101865\charrsid5269364 PAYMENTS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15101865 {\fs24\insrsid15101865\charrsid4414049 
\par }{\fs24\insrsid15101865\charrsid14494463 37.}{\fs24\insrsid15101865  Monthly or quarterly return
\par }{\fs24\insrsid15101865\charrsid14494463 38. Remittances
\par 39.}{\fs24\insrsid15101865  }{\fs24\insrsid15101865\charrsid14494463 Annual return, payment of tax
\par 40.}{\fs24\insrsid15101865  }{\fs24\insrsid11549023 Filing of return;}{\fs24\insrsid15101865  Inspection
\par }{\fs24\insrsid15101865\charrsid14494463 41.}{\fs24\insrsid15101865  }{\fs24\insrsid15101865\charrsid14494463 Erroneous returns, disallowance of exemption, payment
\par 42.}{\fs24\insrsid15101865  }{\fs24\insrsid15101865\charrsid14494463 Refunds and credits
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid15101865\charrsid14494463 43.}{\fs24\insrsid15101865  }{\fs24\insrsid15101865\charrsid14494463 Failure to make return}{\fs24\insrsid15101865 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15101865 {\fs24\insrsid15101865\charrsid14494463 44.}{\fs24\insrsid15101865  Additions to taxes for non-}{\fs24\insrsid15101865\charrsid14494463 compliance or evasion
\par 44A. Relief from tax
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid15101865 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11549023 {\b\fs24\insrsid15101865\charrsid5269364 PART V }{\b\fs24\insrsid4414049 -}{\b\fs24\insrsid15101865\charrsid5269364  GENERAL
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15101865 {\fs24\insrsid15101865\charrsid14494463 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid15101865\charrsid14494463 45.}{\fs24\insrsid15101865  }{\fs24\insrsid15101865\charrsid14494463 I}{\fs24\insrsid15101865 nspection of documents, inquiry
\par }{\fs24\insrsid10630811\charrsid14494463 46.}{\fs24\insrsid15101865\charrsid15101865  }{\fs24\insrsid15101865\charrsid14494463 Limitation period}{\fs24\insrsid15101865 
\par }{\fs24\insrsid10630811\charrsid14494463 47}{\fs24\insrsid15101865\charrsid14494463 . Records}{\fs24\insrsid10630811\charrsid14494463  to be kept}{\fs24\insrsid15101865 ; }{\fs24\insrsid10630811\charrsid14494463 examination, penalties}{
\fs24\insrsid10630811 
\par }{\fs24\insrsid15101865\charrsid14494463 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11549023 {\b\fs24\insrsid10630811\charrsid5269364 PART VI }{\b\fs24\insrsid4414049 -}{\b\fs24\insrsid10630811\charrsid5269364  OBJECTIONS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid15101865\charrsid4414049 
\par }{\fs24\insrsid10630811\charrsid14494463 48. Objections
\par 49. Payment and recovery }{\fs24\insrsid15101865 o}{\fs24\insrsid10630811\charrsid14494463 f tax
\par 49A. Statute of limitation}{\fs24\insrsid15101865 
\par 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11549023 {\b\fs24\insrsid15101865\charrsid5269364 PART VII }{\b\fs24\insrsid4414049 -}{\b\fs24\insrsid15101865\charrsid5269364  ENFORCEMENT OF PAYMENT
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid15101865\charrsid4414049 
\par }{\fs24\insrsid15101865 50. Bulk sales; penalties
\par }{\fs24\insrsid15101865\charrsid14494463 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11549023 {\b\fs24\insrsid10630811\charrsid5269364 PART VI}{\b\fs24\insrsid15101865\charrsid5269364 I}{\b\fs24\insrsid10630811\charrsid5269364 I - OFFENCES AND PENALTIES
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid15101865 
\par }{\fs24\insrsid10630811\charrsid14494463 51. Penalties
\par 52. Application of Act to the Crown
\par }{\fs24\insrsid15101865 53. Offences and penalties
\par 5}{\fs24\insrsid10630811\charrsid14494463 4. Regulations
\par }{\fs24\insrsid15101865 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11549023 {\fs24\insrsid11549023 ----------------------------------------}{\fs24\insrsid15101865 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid11549023 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11549023 {\b\fs24\insrsid10630811\charrsid11549023 1980, No. 6
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid11549023\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4414049 {\fs24\ul\insrsid11549023\charrsid11549023 An Act to impose turnover taxes and to provide for their assessment }{\fs24\ul\insrsid10630811\charrsid11549023 
levy and collection
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid11549023 
\par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11549023 {\i\fs24\insrsid10630811\charrsid4414049 (24 July}{\i\fs24\insrsid11549023\charrsid4414049  1980)}{\i\fs24\insrsid10630811\charrsid4414049 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023\charrsid14494463 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\b\fs24\insrsid10630811\charrsid11549023 BE IT ENACTED}{\fs24\insrsid10630811\charrsid14494463  by the Legislative Assembly of the Cook Islands i}{\fs24\insrsid11549023 n}{
\fs24\insrsid10630811\charrsid14494463  Session assembled, and by the authority of the same as follows:}{\fs24\insrsid10630811 
\par }{\fs24\insrsid11549023\charrsid14494463 
\par }{\fs24\insrsid11549023 1.}{\fs24\insrsid10630811\charrsid14494463  }{\fs24\ul\insrsid10630811\charrsid11549023 Short Title and commencement}{\fs24\insrsid10630811\charrsid14494463  - (1) This Act may be cited a}{\fs24\insrsid4414049 s}{
\fs24\insrsid8197833  the T}{\fs24\insrsid10630811\charrsid14494463 urnover Tax Act 1980.
\par }{\fs24\insrsid11549023 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) This Act shall come into force o}{\fs24\insrsid8197833 n}{\fs24\insrsid10630811\charrsid14494463  such day as the Minister }{\fs24\insrsid11549023 may}{\fs24\insrsid10630811\charrsid14494463 
 appoint by notice in the Gazette.
\par }{\fs24\insrsid11549023 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11549023 {\b\fs24\insrsid11549023\charrsid11549023 PART }{\b\fs24\insrsid4414049 I}{\b\fs24\insrsid10630811\charrsid11549023  - INTERPRETATION: ADMINISTRATION
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid11549023\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 2. }{\fs24\ul\insrsid10630811\charrsid11549023 Interpretation}{\fs24\insrsid10630811\charrsid14494463  - In this Act, unless}{\fs24\insrsid15139130  the context otherwise requires, }{
\fs24\insrsid10630811\charrsid14494463 -
\par }{\fs24\insrsid11549023 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4414049 {\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Casual}{\fs24\insrsid11549023  }{\fs24\insrsid10630811\charrsid14494463 sale}{\fs24\insrsid8004175 "}{
\fs24\insrsid10630811\charrsid14494463  means an occasional or isolated sale or transaction involving tangible personal property }{\fs24\insrsid4414049 -}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023\charrsid14494463 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4414049 {\fs24\insrsid11549023\charrsid11549023 (a}{\fs24\insrsid11549023 ) }{\fs24\insrsid10630811\charrsid14494463 by a person}{\fs24\insrsid11549023  wh
o is not engaged in business;}{\fs24\insrsid10630811\charrsid14494463  }{\fs24\insrsid11549023 or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4414049 {\fs24\insrsid11549023 (b) }{\fs24\insrsid10630811\charrsid14494463 which is not ordinarily sold in the business of a person who i}{\fs24\insrsid11549023 
s regularly engaged in business;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4414049 {\fs24\insrsid8004175 "}{\fs24\insrsid11549023 Collector}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  means the Collector of Inland Revenue app}{
\fs24\insrsid11549023 ointed under the Income Tax Act 1972;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4414049 {\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Department}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  means the Departm
ent of Inland Revenue}{\fs24\insrsid11549023  }{\fs24\insrsid10630811\charrsid14494463 establishe}{\fs24\insrsid4414049 d under the Income Tax Act 1972;}{\fs24\insrsid11549023 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4414049 {\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Minister}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  means the Minister of Finance}{
\fs24\insrsid4414049 ;}{\fs24\insrsid10630811\charrsid14494463 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4414049 {\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Person}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  or }{\fs24\insrsid8004175 "}{
\fs24\insrsid10630811\charrsid14494463 Company}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 
 includes every individual, incorporated company, partnership, society, unincorporated association, group, corporation sole, personal representative, trust or other entity whether such persons are doing business for themselves or in a fiduciary capacity, 
and whether the individuals are residents or non-residents}{\fs24\insrsid11549023  }{\fs24\insrsid10630811\charrsid14494463 of the Cook Islands, and whether the company or other a}{\fs24\insrsid5269364 ssociation is created or organis}{
\fs24\insrsid10630811\charrsid14494463 ed under the laws of the Cook Islands or elsewhere. Any person who has in his possession, for sale in the Cook Islands, the property}{\fs24\insrsid11549023  }{\fs24\insrsid10630811\charrsid14494463 
of a non-resident owner, other than as an employee of such owner, shall be deemed the se}{\fs24\insrsid4414049 ller of the property, when sold;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4414049 {\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Purchasing agent}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 
 means any person who, as an agent and not a seller, for a consideration, is engaged in the Co}{\fs24\insrsid15139130 ok I}{\fs24\insrsid10630811\charrsid14494463 
slands in the business of purchasing for his principal or principals from a seller or sellers property for use by such principals, in the Cook Islands, including forwarding orders for such purchases, on behalf of such principals, whether he is compensa
ted for his services by the seller or by the purchaser; provided that the term }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 purchasing agent}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  does not inclu}{
\fs24\insrsid4414049 de an employee of the purchaser;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4414049 {\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 qualifying goods}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  means}{
\fs24\insrsid4414049 -}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid4414049\charrsid14494463 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4414049 {\fs24\insrsid10630811\charrsid14494463 (a) any processed agricultural, horticultural or marine products grown in the Cook Islands or any by-product o}{
\fs24\insrsid11549023 f}{\fs24\insrsid10630811\charrsid14494463  any such agricultural, }{\fs24\insrsid8004175 horticultural or marine product;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023\charrsid14494463 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4414049 {\fs24\insrsid10630811\charrsid14494463 (b) any goods which the Collector may from time to time determine by notice in the Gazette being goods which}{
\fs24\insrsid8004175 :}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023\charrsid14494463 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid4414049 {\fs24\insrsid11549023\charrsid11549023 (i}{\fs24\insrsid11549023 ) }{\fs24\insrsid10630811\charrsid14494463 he is satisfied incorporate a significant degree of }{
\fs24\insrsid11549023 local processing or manufacture;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid4414049 {\fs24\insrsid10630811\charrsid14494463 (ii) he considers desirable to so determine, having regard to the economics of further local pr}{\fs24\insrsid11549023 
ocessing or manufacture the non-}{\fs24\insrsid4414049 t}{\fs24\insrsid10630811\charrsid14494463 raditional nature of the exporting of those goods, the prospects for the steady development of an 
export market on a profitable basis, the efficiency of the arrangements for the orderly marketing, and the effect of the exports of those goods on the supply and the p}{\fs24\insrsid15139130 rice of like goods in the Cook I}{
\fs24\insrsid10630811\charrsid14494463 slands and the structure}{\fs24\insrsid11549023  }{\fs24\insrsid8004175 of the local industry;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023\charrsid14494463 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid8004175 {\insrsid15139130 [}{\insrsid10630811\charrsid4414049 Section 2 of Act 1981/4 provides as follows }{\insrsid4414049\charrsid4414049 -}{\insrsid11549023\charrsid4414049 
 }{\insrsid10630811\charrsid4414049 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8004175 {\insrsid11549023\charrsid4414049 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid8004175 {\insrsid10630811\charrsid4414049 (2) The Collector may in his discretion and at any time cancel th}{\insrsid11549023\charrsid4414049 e qualifying goods status of }{
\insrsid10630811\charrsid4414049 any goods so gazetted by giving}{\insrsid15139130  notice thereof in the Gazette.]
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15139130 {\fs24\insrsid11549023\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4414049 {\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Representative}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 
 means any salesman, commission agent, manufacturer}{\fs24\insrsid4414049 '}{\fs24\insrsid10630811\charrsid14494463 
s representative, broker or other person who is authorised or employed by a seller to assist such seller in selling any property (real or personal) for use in the Cook Islands by procuring orders for such
 sales or otherwise, and who carries on such activities in the Cook Islands, whether such activities are regular or intermittent; provided that the term }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 representative}{\fs24\insrsid8004175 
"}{\fs24\insrsid10630811\charrsid14494463  does not include a manufacturer}{\fs24\insrsid4414049 '}{\fs24\insrsid10630811\charrsid14494463 s representative whose functions are wholly promotiona
l and to act as liaison between sellers, and which do not include the procuring, soliciting or accepting of orders for any property or the making of deliveries of any property, or the collecting of payment for deliveries of any property, or the keeping}{
\fs24\insrsid11549023  of books of }{\fs24\insrsid10630811\charrsid14494463 account concerning any property orders, deliveries or collections transpiring between sellers. Any seller who in person carries on any such activity}{\fs24\insrsid11549023  }{
\fs24\insrsid10630811\charrsid14494463 in the Cook Islands shall}{\fs24\insrsid8004175  be classed as a representative;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4414049 {\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Sale}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  or }{\fs24\insrsid8004175 "}{
\fs24\insrsid10630811\charrsid14494463 sales}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  includes the }{\fs24\insrsid11549023\charrsid14494463 exchange}{\fs24\insrsid10630811\charrsid14494463  of properties as wel}{
\fs24\insrsid8004175 l as the sale thereof for money;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4414049 {\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Taxpayer}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  means any pers}{
\fs24\insrsid8004175 on liable for any tax hereunder;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4414049 {\fs24\insrsid11549023\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4414049 {\fs24\insrsid4414049 '}{\fs24\insrsid10630811\charrsid14494463 Tax year}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  or }{\fs24\insrsid8004175 "}{
\fs24\insrsid10630811\charrsid14494463 taxable year}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  means either the calendar year, or the taxpayer}{\fs24\insrsid4414049 '}{\fs24\insrsid10630811\charrsid14494463 
s fiscal year when the same constitutes the tax period instead of the calendar year pursuant}{\fs24\insrsid11549023  }{\fs24\insrsid10630811\charrsid14494463 to section 11 of this Act.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8004175 {\fs24\insrsid11549023 [}{\i\fs24\insrsid10630811\charrsid11549023 Ame}{\i\fs24\insrsid11549023\charrsid11549023 nded Act 1981/4; Act 1991-92/37}{\fs24\insrsid11549023 ]}{
\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid11549023 
\par }{\fs24\insrsid10630811\charrsid14494463 3. }{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid10630811\charrsid11549023 Businesses}{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid10630811\charrsid11549023 , }{\fs24\ul\insrsid8004175 "}{
\fs24\ul\insrsid10630811\charrsid11549023 engaging}{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid10630811\charrsid11549023  in business defined}{\fs24\insrsid10630811\charrsid8197833  }{\fs24\insrsid4414049 -}{\fs24\insrsid11549023  }{
\fs24\insrsid10630811\charrsid14494463 (1) }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Business}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  as
 used in this Act, includes all activities (personal, professional, or corporate), engaged in or caused to be engaged}{\fs24\insrsid11549023  or caused to be engaged in}{\fs24\insrsid10630811\charrsid14494463 
 with the object of gain or economic benefit either direct or indirect, but does not include casual sales.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid8197833\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) The term }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 engaging}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 
 as used in this Act with reference to engaging or continuing in business also includes the exercise of corporate or franchise powers.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid11549023\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 4.}{\fs24\insrsid14494463  }{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid10630811\charrsid11549023 Gross income}{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid10630811\charrsid11549023 , }{\fs24\ul\insrsid8004175 "}{
\fs24\ul\insrsid10630811\charrsid11549023 gross }{\fs24\ul\insrsid11549023\charrsid11549023 p}{\fs24\ul\insrsid10630811\charrsid11549023 roceeds of sale}{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid10630811\charrsid11549023  defined}{
\fs24\insrsid10630811\charrsid14494463  }{\fs24\insrsid4414049 -}{\fs24\insrsid11549023  }{\fs24\insrsid10630811\charrsid14494463 (1) }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Gross income}{\fs24\insrsid8004175 "}{
\fs24\insrsid10630811\charrsid14494463  means the gross receipts, ca
sh or accrued, of the taxpayer received as reward for personal services and the gross receipts of the taxpayer derived from trade, business, commerce, or sales and the value proceeding or accruing from the sale of tangible personal property, or service, o
r
 both, and all receipts, actual or accrued as hereinafter provided, by reason of the investment of the capital of the business engaged in, including interest, discount, rentals, royalties, fees or other emoluments however designated and without any deduct
ions on account of the cost of property sold, the cost of materials used, labour cost, taxes including any Turnover tax payable under this Act, whether or not separately detailed on the invoice, account, or oth}{\fs24\insrsid15360092 
er document, royalties, interest}{\fs24\insrsid10630811\charrsid14494463  or discount paid or any other expenses whatsoever and also}{\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 
includes the gross receipts of goods and services that would otherwise have been received by the taxpayer but for those goods or services having being used partially or solely for t e taxpayer}{\fs24\insrsid4414049 '}{
\fs24\insrsid10630811\charrsid14494463 s benefit.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid15360092\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Gross proceeds of sale}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 
 means the value actually proceeding from the sale of tangible personal property without any deduction on account of the cost of proper}{\fs24\insrsid8934138 ty sold or expenses of any kind.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid15360092\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (3) The words }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 gross income}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  and }{\fs24\insrsid8004175 "}{
\fs24\insrsid10630811\charrsid14494463 gross proceeds of sales}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  sh}{\fs24\insrsid15360092 all not be construed to includes:}{\fs24\insrsid10630811\charrsid14494463 
 gross receipts from the sale of bonds or other evidence of indebtedness or shares, or except as otherwise provided, dividends as defined by section 4 of the Income Tax Act 1972; group discounts allowed and taken on sales, the proceeds of sale of goods}{
\fs24\insrsid15360092 , wares or merchandise returned}{\fs24\insrsid10630811\charrsid14494463  by customers when the sale price is refunded either in cash or by credit;}{\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 
or the sale price of any article accepted as part payment on any new article sold, if the full sale price of the new article is included in the }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 gross income}{\fs24\insrsid8004175 "}{
\fs24\insrsid10630811\charrsid14494463  or }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 gross proceeds of sales}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 
. Accounts found to be worthless and actually written off may, at corresponding periods, be within this Act, so far as they reflect taxable sales made, or gross income earned, but
 shall be added to gross proceeds of sale or gross income when and if afterwards collected.}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8004175 {\fs24\insrsid15360092 [}{\i\fs24\insrsid10630811\charrsid15360092 Amended Act 1984-}{\i\fs24\insrsid15360092\charrsid15360092 85/26; Act 1991-92/37}{\fs24\insrsid15360092 ]

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid15360092 
\par }{\fs24\insrsid10630811\charrsid14494463 5.}{\fs24\insrsid14494463  }{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid10630811\charrsid15360092 Wholesale purchaser}{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid10630811\charrsid15360092  defined}{
\fs24\insrsid10630811\charrsid14494463  - (1) A }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 wholesale purchaser}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  means a person making purchases at wholesale}{
\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 by any method unless required by the Collector to make payment by cheque or}{\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 
other traceable method as approved by the Collector.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid15360092\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) Only the follow}{\fs24\insrsid15360092 ing are purchases at wholesales:
\par 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15360092 {\fs24\insrsid10630811\charrsid14494463 (a) Purchases by a retail merchant or other seller for purposes of resale;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid15360092\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15360092 {\fs24\insrsid10630811\charrsid14494463 
(b) purchases by a manufacturer of materials or commodities which are to be incorporated by the manufacturer into a finished or saleable product (including the container or package in which the product is contained) during the course of its preservation, 
manufacture, or processing, including preparation for market, and which}{\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 
will remain in such finished or saleable product in such form as to be perceptible to the senses, which finished or saleable product}{\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 is to be sold and not otherwise used by the manufact
urer; or}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid15360092\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15360092 {\fs24\insrsid10630811\charrsid14494463 
(c) purchases by a contractor of material or commodities which are to be incorporated by the contractor into the finished work or project required by the contract and which will remain in such finished work or project in such form as to be percep
tible to the senses; or}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid15360092\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15360092 {\fs24\insrsid10630811\charrsid14494463 
(d) purchases by a producer, of poultry or animal feed, hatching eggs, semen, replacement stock, breeding services, for the purpose of raising or}{\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 
producing animal or poultry products for disposition as described in section 7 hereof or to be incorporated in a manufactured product as described in paragraph (b) of this section for the purposes of breedi}{\fs24\insrsid15360092 n}{
\fs24\insrsid10630811\charrsid14494463 g, hatching, milking, or egg laying other than for the customer}{\fs24\insrsid4414049 '}{\fs24\insrsid10630811\charrsid14494463 s own consumption of the meat, poultry, eggs, or milk so produced; or}{
\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid15360092\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15360092 {\fs24\insrsid10630811\charrsid14494463 
(e) purchases by a producer of seed or fertilizer for producing agricultural products, or bait for catching fish (including the catching of bait for catching fish), which agricultural products or fish are to be disposed of as described in section 7 hereof
 or to be incorporated to a manufactured product as described in paragraph (b) of this section; or}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8197833 {\fs24\insrsid15360092\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15360092 {\fs24\insrsid10630811\charrsid14494463 (f) purchases by a producer of cartons and such}{\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 
other containers, wrappers and sacks, and binders to be used for packaging eggs, vegetables, fruits, and other agricultural products; of seedlings}{\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 
and cuttings for producing nursery plants, or}{\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 
of chick containers; which cartons and such other containers, wrappers and sacks, binders, seedlings, cuttings and containers are to be used as described i}{\fs24\insrsid4146273 n paragraph (b) of this section;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid15360092\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15360092 {\fs24\insrsid10630811\charrsid14494463 
(g) purchases of tangibles personal property by a person engaged in any service business provided that (i) the said property is not consumed or}{\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 
incidental to the performance of the services; (ii) there is a resale of said article, and (iii) the resale of said article is separately charged or billed by the person rendering the services.}{\fs24\insrsid15360092 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid15360092 [}{\i\fs24\insrsid15360092\charrsid15360092 Amended Act 1991-92/37}{\fs24\insrsid15360092 ]}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid15360092\charrsid14494463 
\par }{\fs24\insrsid15360092 6.}{\fs24\insrsid10630811\charrsid14494463  }{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid10630811\charrsid15360092 Wholesale service user}{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid10630811\charrsid15360092  defined}{
\fs24\insrsid15360092  - A }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Wholesale service user}{\fs24\insrsid8004175 "}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 
means a person who is engaged in any profession, trade, occupatio
n, service business or calling who uses or obtains activities or services provided by any other person who is engaged in any profession, trade, occupation, service business, or calling, and who acts or acts in the nature of an intermediary between the per
son rendering such activities or services and the}{\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 ultimate recipient}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 
of the benefits of such activities or services; and includes any person who is so engaged in any profession, trade, occupation, service business or calling as a contractor.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid15360092\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 7. }{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid10630811\charrsid15360092 Producer}{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid10630811\charrsid15360092  defined}{\fs24\insrsid10630811\charrsid14494463  - }{
\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Producer}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  i}{\fs24\insrsid16021033 ncludes any person engaged in th}{\fs24\insrsid10630811\charrsid14494463 
e business of raising and producing agricultural, animal or poultry products in their natural state, or in producing natural resource products, or engaged in the business of fishing, for sale of the agricultural, animal or poultry products}{
\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 in their natural state, or butchered and dressed, or the natural resource products or the fish.
\par }{\fs24\insrsid15360092 
\par }{\fs24\insrsid10630811\charrsid14494463 8. }{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid10630811\charrsid15360092 Contractor}{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid10630811\charrsid15360092  defined}{\fs24\insrsid10630811\charrsid14494463  - }{
\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Contractor}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  incl}{\fs24\insrsid15360092 udes, for purposes o}{\fs24\insrsid16021033 f}{\fs24\insrsid15360092  this Act: (}{
\fs24\insrsid10630811\charrsid14494463 a) Every person engaging in the busine}{\fs24\insrsid15360092 s}{\fs24\insrsid10630811\charrsid14494463 s of contracting to}{\fs24\insrsid15360092  e}{\fs24\insrsid10630811\charrsid14494463 
rect, construct, repair or improve buildin}{\fs24\insrsid15360092 g}{\fs24\insrsid10630811\charrsid14494463 s or structures, of any kind or d}{\fs24\insrsid15360092 escription, including any portio}{\fs24\insrsid10630811\charrsid14494463 
n thereof, or to make any installation therein, or to make, construct, repair or improve any highway, road, street, sidewa}{\fs24\insrsid15360092 l}{\fs24\insrsid10630811\charrsid14494463 k, ditch,
 excavation, fill, bridge, shaft, well, culvert, sewer, water system, drainage system, dr}{\fs24\insrsid15360092 edging or harbour improvement pr}{\fs24\insrsid10630811\charrsid14494463 
oject, electric or steam rail, lighting or power station, transmission line, tower, dock, wharf, or other improvement;}{\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 and - (b) Every 
person engaging in the practice of architecture, professional engineering, land surveying, or landscape architecture.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid15360092\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 9.}{\fs24\insrsid15360092  }{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid15360092\charrsid15360092 Service Business or calling}{\fs24\ul\insrsid8004175 "}{\fs24\ul\insrsid15360092\charrsid15360092  }{
\fs24\ul\insrsid10630811\charrsid15360092 defined}{\fs24\insrsid10630811\charrsid14494463  - }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Service business or calling}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 
 includes a non professional activities engaged i}{\fs24\insrsid4146273 n}{\fs24\insrsid10630811\charrsid14494463  for other persons for a consideration which involve the render of a service as distinguished from the sale of tangible}{
\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 property. }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 Service business or calling}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 
 does not include the services rendered by any employee to his employer.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid15360092\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 10. }{\fs24\ul\insrsid10630811\charrsid15360092 Administration b}{\fs24\ul\insrsid4021880 y}{\fs24\ul\insrsid10630811\charrsid15360092  Department}{\fs24\insrsid10630811\charrsid14494463 
 - (1) This Act shall be administered by the Department.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid15360092\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) The Department shall have, in addition to all of the duties and powers herein respectively prescribed or granted, all the duties and powers respectively prescribed or granted by the exi
sting or future tax laws of the Cook Islands so far the same may be applicable to the administration of this Act and are not contrary to the express provisions hereof.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid15360092\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 11. }{\fs24\ul\insrsid10630811\charrsid15360092 Tax year}{\fs24\insrsid10630811\charrsid14494463  - The assessment of taxes herein made and the returns required therefor shall be for the year ending on December 31.
}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 
If the taxpayer keeps his books reflecting the same on a basis other than the calendar year he may, with the assent of the Department, and upon the direction of the Department shall, make his annual returns and pa
y taxes for the year covering his accounting period as shown by the meth}{\fs24\insrsid15360092 od}{\fs24\insrsid10630811\charrsid14494463  of keeping his books.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811\charrsid14494463 [}{\i\fs24\insrsid10630811\charrsid15360092 Amended Act 1991-92/37}{\fs24\insrsid10630811\charrsid14494463 ]}{\fs24\insrsid10630811 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\b\fs24\insrsid15360092\charrsid15360092 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15360092 {\b\fs24\insrsid10630811\charrsid15360092 PART II }{\b\fs24\insrsid4414049 -}{\b\fs24\insrsid10630811\charrsid15360092  REGISTRATION
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid15360092\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 12. }{\fs24\ul\insrsid10630811\charrsid15360092 Registration as wholesale purchaser}{\fs24\insrsid10630811\charrsid14494463 
 - (1) Any person who is a wholesale purchaser of any property or class or type of property may apply to the Collector in writing}{\fs24\insrsid15360092  }{\fs24\insrsid10630811\charrsid14494463 for registration as a wholesale purchaser of that proper}{
\fs24\insrsid10357673 ty or class or type of property.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid15360092\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) Every application shall specify }{\fs24\insrsid4414049 -}{\fs24\insrsid15360092  }{\fs24\insrsid10630811 
\par }{\fs24\insrsid15360092\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3691580 {\fs24\insrsid10630811\charrsid14494463 (a) The property or class or type of property purchased by the applicant as a wholesale purchaser;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid3691580\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3691580 {\fs24\insrsid10630811\charrsid14494463 (b) Such other information as the Collector shall consider relevant.}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (3) If the Collector is satisfied that the applicant is}{\fs24\insrsid3691580  }{\fs24\insrsid10630811\charrsid14494463 a wholesale purchas
er of any specified property of any class or type of property the Collector shall register the applican}{\fs24\insrsid3691580 t}{\fs24\insrsid10630811\charrsid14494463  as a wholesale purchase in respect of that property or type or class of property.}{
\fs24\insrsid10630811 
\par }{\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (4) Every applicant who is registered as a wholesale purchaser shall
 be registered for the period commencing on the day upon which his application is granted and ending upon the 1st day of January in the year immediately fo}{\fs24\insrsid3691580 llowing the year of application.}{\fs24\insrsid10630811\charrsid14494463 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811\charrsid14494463 [}{\i\fs24\insrsid3691580\charrsid3691580 Amended}{\i\fs24\insrsid10630811\charrsid3691580  Act 1984-85/26}{
\fs24\insrsid10630811\charrsid14494463 ]}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid3691580 13. }{\fs24\ul\insrsid10630811\charrsid3691580 Registration as a wholesale service user}{\fs24\insrsid3691580  - (1) Any person who is a wh}{\fs24\insrsid10630811\charrsid14494463 o}{\fs24\insrsid3691580 l}{
\fs24\insrsid10630811\charrsid14494463 es}{\fs24\insrsid3691580 al}{\fs24\insrsid10630811\charrsid14494463 e service user o}{\fs24\insrsid3691580 f}{\fs24\insrsid10630811\charrsid14494463 
 any profession, trade, occupation, service business or calling may apply to the Collector in writing for registration as a whol}{\fs24\insrsid3691580 e}{\fs24\insrsid10630811\charrsid14494463 
sale service user in respect of that profession, trade, occupation, servic}{\fs24\insrsid3691580 e }{\fs24\insrsid10630811\charrsid14494463 business or calling.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) Every application shall specify }{\fs24\insrsid4414049 -}{\fs24\insrsid3691580  }{\fs24\insrsid10630811 
\par }{\fs24\insrsid3691580\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3691580 {\fs24\insrsid10630811\charrsid14494463 
(a) The profession, trade, occupation, service business or calling in respect of which the applicant uses or obtains activities or services;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid3691580\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3691580 {\fs24\insrsid1969328 (b) S}{\fs24\insrsid10630811\charrsid14494463 uch other information as the Collector shall consider relevant.}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (3
) If the Collector is satisfied that the applicant is a wholesale service user of a specified profession, trade, occupation, service business or calling the Collector shall register the applicant as a wholesale service user in respect of that profession, 
trade, occupation, service business or calling.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (4) Every applicant who is registered as a wholesale s}{\fs24\insrsid3691580 ervice user shall be registered }{\fs24\insrsid10630811\charrsid14494463 
for the period commencing on the day upon which his application is granted and ending upon the 1st day of January in the year immediately following the year of application.
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6839179 {\fs24\insrsid3691580 [}{\i\fs24\insrsid10630811\charrsid3691580 Amended Act 1984-85/26}{\fs24\insrsid10630811\charrsid14494463 ]}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 14. }{\fs24\ul\insrsid10630811\charrsid3691580 Variation of registration}{\fs24\insrsid10630811\charrsid14494463  - (1) If the Collector is}{\fs24\insrsid3691580  }{\fs24\insrsid10630811\charrsid14494463 s
atisfied either on t}{\fs24\insrsid3691580 h}{\fs24\insrsid10630811\charrsid14494463 e app}{\fs24\insrsid3691580 li}{\fs24\insrsid10630811\charrsid14494463 
cation of the registered wholesale purchaser or wholesale service user as the case may be or on his own enquiry that any registration pursuant to section 12}{\fs24\insrsid3691580  }{\fs24\insrsid10630811\charrsid14494463 
to 13 of this Act should be varied in some material respect the Collector shall so vary the said registration.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 
(2) Before the Collector shall vary the registration following his own enquiry, he shall give the registered wholesale purchaser or wholesale service user as the case may be 14 days prior notice in writing of his in
tention to so vary the registration. Prior to the expiration of the 14 days the registered wholesale purchaser or wholesale service user as the case may be may}{\fs24\insrsid3691580  }{\fs24\insrsid10630811\charrsid14494463 
make representations in writing to the Collector relating to the proposed variation and such representations shall be considered by the Collector before he makes his decision.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 15. }{\fs24\ul\insrsid10630811\charrsid3691580 Cancellation of registration}{\fs24\insrsid10630811\charrsid14494463  - (1) if the Collector considers that any registered}{\fs24\insrsid14494463  }{
\fs24\insrsid10630811\charrsid14494463 wholesale purchase or wholesale service user may no longer be engaged in any activity for
 which he is registered pursuant to section 12 or 13 of this Act, the Collector shall give notice in writing to him of the intention of the Collector to enquire into the possible cancellation of the registration in respect of that activity.}{
\fs24\insrsid10630811 
\par }{\fs24\insrsid4146273\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) Within 14 
days of the receipt by him of the notice referred to in sub-section (1) hereof the registered wholesale purchaser or wholesale service user may make representations in writing to the Collector relating to the activity in question.}{\fs24\insrsid10630811 

\par }{\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (3) Before cancelling an
y such registration in respect of any such activity the Collector shall advise the registered wholesale purchaser or wholesale service user concerned of the reasons for his decision and shall give the said person affected}{\fs24\insrsid3691580  }{
\fs24\insrsid10630811\charrsid14494463 a further period of 7 days in which to make further representations thereon.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (4)}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 
If after complying with the provisions of sub-sections (1), (2) and (3) hereof the Collector is satisfied that any registered wholesale purchaser, or wholesale service user is no longer engaged in any activit
y for which his is registered the Collector shall cancel the registration of that activity.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 16. }{\fs24\ul\insrsid10630811\charrsid3691580 Appeals}{\fs24\insrsid10630811\charrsid14494463  - (1) Any applicant for r}{\fs24\insrsid3691580 egistration pursuant to section}{
\fs24\insrsid10630811\charrsid14494463 s}{\fs24\insrsid3691580  12 }{\fs24\insrsid10630811\charrsid14494463 and 13 of this Act and any person affected by any decision of the Collector pursuant to sections 14 and 15 of}{\fs24\insrsid3691580  }{
\fs24\insrsid10630811\charrsid14494463 this Act may appeal to the High Court of the Cook Islands against any decision of the Collector pursuant to sections 14 and 15}{\fs24\insrsid3691580  o}{\fs24\insrsid10630811\charrsid14494463 f this Act.
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6839179 {\fs24\insrsid3691580 [}{\i\fs24\insrsid10630811\charrsid3691580 Amended Act 1991-92/37}{\fs24\insrsid10630811\charrsid14494463 ]
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid3691580 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) Every such appeal shall }{\fs24\insrsid12452916 be commenced by notice in writin}{\fs24\insrsid10630811\charrsid14494463 g filed in the H}{\fs24\insrsid3691580 igh Court of the Cook Islands w}{
\fs24\insrsid10630811\charrsid14494463 ithin 21 days }{\fs24\insrsid12452916 o}{\fs24\insrsid10630811\charrsid14494463 f the decision of the Collector to be appealed against or such further time as the Court may allow.
\par }{\fs24\insrsid3691580 
\par }{\fs24\insrsid10630811\charrsid14494463 (3) On the hearing of any s}{\fs24\insrsid12452916 uch appeal the High Court may affirm,}{\fs24\insrsid10630811\charrsid14494463  vary or annul the decision of the Collector.
\par 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3691580 {\b\fs24\insrsid10630811\charrsid3691580 PART III - IMPOSITION OF TAXES
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 17. }{\fs24\ul\insrsid10630811\charrsid3691580 Turnover Tax}{\fs24\insrsid10630811\charrsid14494463  - (1) Subject to the provisions of this Ac}{\fs24\insrsid16662493 t}{\fs24\insrsid10630811\charrsid14494463 
 there shall}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 assessed levied and paid for the use of Her Majesty a tax herein referred to as turnover tax.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) Turnover tax shall be payable by persons on account of }{\fs24\insrsid16662493 t}{\fs24\insrsid10630811\charrsid14494463 heir business an}{\fs24\insrsid3691580 d other activities in the Cook I}{
\fs24\insrsid10630811\charrsid14494463 slands measured by the application of rates against values of products,}{\fs24\insrsid3691580  }{\fs24\insrsid10630811\charrsid14494463 gross proceeds of sales, or gross income.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 18. }{\fs24\ul\insrsid10630811\charrsid3691580 Tax upon sale of property}{\fs24\insrsid10630811\charrsid14494463  - Every person engaging or continuing w}{\fs24\insrsid16662493 ithin the}{
\fs24\insrsid10630811\charrsid14494463  Coo}{\fs24\insrsid16662493 k Isl}{\fs24\insrsid10630811\charrsid14494463 ands in the business of selling any tangible personal property shall pay a tax levie}{\fs24\insrsid11626289 d}{
\fs24\insrsid10630811\charrsid14494463  and assessed at a rate equivalent to }{\fs24\insrsid4414049 -}{\fs24\insrsid3691580  }{\fs24\insrsid10630811 
\par }{\fs24\insrsid3691580\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3691580 {\fs24\insrsid10630811\charrsid14494463 (a) It of the gross proceeds of the sales of the business to any person who
 is registered as a wholesale purchaser pursuant to section 12 of this Act in respect of the property sold to him;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid3691580\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3691580 {\fs24\insrsid10630811\charrsid14494463 (b) 10% of the gross proceeds of the sales of the business i}{\fs24\insrsid3691580 n}{\fs24\insrsid10630811\charrsid14494463 
 all other cases.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid3691580 [}{\i\fs24\insrsid10630811\charrsid3691580 Amended Act 1984-85/26; Act 1987/14}{\fs24\insrsid3691580 ]}{\fs24\insrsid10630811\charrsid14494463 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid4146273 
\par }{\fs24\insrsid10630811\charrsid14494463 19. }{\fs24\ul\insrsid10630811\charrsid3691580 Tax upon services}{\fs24\insrsid10630811\charrsid14494463  - Every person engaging or continuing within the Cook}{\fs24\insrsid14494463  }{
\fs24\insrsid10630811\charrsid14494463 Islands in any profession, trade, occupation, service business or calling shall pay a tax levied and assess at a rate equivalent to }{\fs24\insrsid4414049 -}{\fs24\insrsid3691580  }{\fs24\insrsid10630811 
\par }{\fs24\insrsid3691580\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3691580 {\fs24\insrsid10630811\charrsid14494463 (a)}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 It of the gross income thereof obtained or derived from any p
erson registered as a wholesale service user of the profession, trade, occupation, service business or calls pursuant to section 13 of this Act.}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid3691580\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3691580 {\fs24\insrsid11626289 (b) 10%}{\fs24\insrsid10630811\charrsid14494463  of the gross inc}{\fs24\insrsid3691580 ome thereof in all other cases.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid3691580 [}{\i\fs24\insrsid10630811\charrsid3691580 Amen}{\i\fs24\insrsid3691580\charrsid3691580 ded Act 1984-85/26; Act 1987/14}{\fs24\insrsid3691580 ]}{
\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 20. }{\fs24\ul\insrsid10630811\charrsid3691580 Tax upon contractors}{\fs24\insrsid10630811\charrsid14494463  - Every contractor engaging or continuing w}{\fs24\insrsid16335920 i}{
\fs24\insrsid10630811\charrsid14494463 t}{\fs24\insrsid16335920 hin}{\fs24\insrsid10630811\charrsid14494463  the Cook Islands in the business of contrac}{\fs24\insrsid3691580 t}{\fs24\insrsid16335920 ing,}{\fs24\insrsid10630811\charrsid14494463 
 shall pay a tax levied and assessed at a rate equivalent to -}{\fs24\insrsid3691580  }{\fs24\insrsid10630811\charrsid14494463 
\par }{\fs24\insrsid3691580 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3691580 {\fs24\insrsid3691580\charrsid3691580 (a}{\fs24\insrsid3691580 ) 1% of the gross income thereof obtained or derived from any person registered as
 a wholesale service user in respect of that part of the business of the contractor undertaken for the wholesale service user pur}{\fs24\insrsid13521989 suant to section 13 of this Act;}{\fs24\insrsid3691580 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3691580 {\fs24\insrsid3691580 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid3691580 {\fs24\insrsid10630811\charrsid14494463 (b) 10% of the gross inc}{\fs24\insrsid3691580 ome thereof in all other cases.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid3691580 [}{\i\fs24\insrsid10630811\charrsid3691580 Amended Act 1984-85/26; Act 1987/14}{\fs24\insrsid10630811\charrsid14494463 ]}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid3691580\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 21.}{\fs24\insrsid14494463  }{\fs24\ul\insrsid10630811\charrsid10630811 Tax upon theatres, amusements}{\fs24\ul\insrsid14494463\charrsid10630811  }{\fs24\ul\insrsid10630811\charrsid10630811 
and radio broadcasting stations etc}{\fs24\insrsid10630811\charrsid14494463 . - Every person engaging or continuing}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 wit}{\fs24\insrsid10630811 hin}{\fs24\insrsid10630811\charrsid14494463 
 the Cook Islands }{\fs24\insrsid10630811 i}{\fs24\insrsid10630811\charrsid14494463 n the business of operating a theatre, oper}{\fs24\insrsid10630811 a}{\fs24\insrsid10630811\charrsid14494463  house, movie picture show, vaudeville, amusement park, dance}
{\fs24\insrsid14752212  hall,}{\fs24\insrsid10630811\charrsid14494463  skating rink, radio broadcasting station or any other place a}{\fs24\insrsid14752212 t}{\fs24\insrsid10630811\charrsid14494463 
 which amusements are offered to the public, shall pay a tax levied and assessed at a rate equal}{\fs24\insrsid14494463  }{\fs24\insrsid14752212 to 10% }{\fs24\insrsid10630811\charrsid14494463 of the gross income of the business.}{\fs24\insrsid10630811 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811 [}{\i\fs24\insrsid10630811\charrsid10630811 Amended Act 1984-85/26; Act 1987/14}{\fs24\insrsid10630811\charrsid14494463 ]}{\fs24\insrsid10630811 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid10630811\charrsid14494463 
\par 22. }{\fs24\ul\insrsid10630811\charrsid10630811 Tax upon sales representatives or purchasing agents}{\fs24\insrsid10630811  - Every person cl}{\fs24\insrsid10630811\charrsid14494463 ass}{\fs24\insrsid10630811 ifi}{\fs24\insrsid10630811\charrsid14494463 e}
{\fs24\insrsid10630811 d}{\fs24\insrsid10630811\charrsid14494463  as a representative}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 
or purchasing agent under section 2 of this Act engaging or continuing within the Cook Islands in the business of performing services for another, ot}{\fs24\insrsid10630811 her than as an employee, shall }{\fs24\insrsid10630811\charrsid14494463 
pay a tax levied and assessed at a rate equal to 10% of the commissions and other reward attributions to the services so rendered by him.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811 [}{\i\fs24\insrsid10630811\charrsid10630811 Amended Act 1984-85/26; Act 1987/14}{\fs24\insrsid10630811 ]
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid10630811\charrsid14494463 
\par }{\fs24\insrsid10630811 23.}{\fs24\insrsid14494463  }{\fs24\ul\insrsid10630811\charrsid10630811 Tax upon licensed tourist business}{\fs24\insrsid10630811\charrsid14494463  - Every person who holds }{\fs24\insrsid10630811 a }{
\fs24\insrsid10630811\charrsid14494463 licence }{\fs24\insrsid10630811 issued}{\fs24\insrsid10630811\charrsid14494463  under the Tour}{\fs24\insrsid10630811 ist}{\fs24\insrsid10630811\charrsid14494463 
 Authority Act 1968 shall pay a tax levied and assessed at a rate equal to 10% of the gross income of all business engaged in or carried on and 10% of the gross proceeds of all sales of tangible personal property ma
de pursuant to or in connection with that licence.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811 [}{\i\fs24\insrsid10630811\charrsid10630811 Amended Act 1984-8S/26; Act 1987/14}{\fs24\insrsid10630811 ]
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid10630811\charrsid14494463 
\par }{\fs24\insrsid10630811 24.}{\fs24\insrsid10630811\charrsid14494463  }{\fs24\ul\insrsid10630811\charrsid10630811 Tax on banking business}{\fs24\insrsid10630811\charrsid14494463  - Every person who holds a licence issue}{\fs24\insrsid10630811 d}{
\fs24\insrsid10630811\charrsid14494463  under the Banking Act 1969 shall pay a tax levied and assessed at a rate equivalent to }{\fs24\insrsid4414049 -}{\fs24\insrsid10630811  
\par }{\fs24\insrsid10630811\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10630811 {\fs24\insrsid10630811\charrsid14494463 (a) 10% of the i}{\fs24\insrsid10630811 nterest received by that person;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid10630811\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10630811 {\fs24\insrsid10630811\charrsid14494463 (b) 10% of all oth}{\fs24\insrsid10630811 er charges made by that person.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811\charrsid14494463 [}{\i\fs24\insrsid10630811\charrsid10630811 Amended Act 1984-85/26; Act 1987/14}{\fs24\insrsid10630811 ]}{
\fs24\insrsid10630811\charrsid14494463 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid10630811 
\par }{\fs24\insrsid10630811\charrsid14494463 25. }{\fs24\ul\insrsid10630811\charrsid10630811 Tax on shipping and airline business}{\fs24\insrsid10630811\charrsid14494463  - (1) Every person engaged in any shipp}{\fs24\insrsid9332568 ing}{
\fs24\insrsid10630811\charrsid14494463  or airline}{\fs24\insrsid14494463  }{\fs24\insrsid9332568 business shall}{\fs24\insrsid10630811\charrsid14494463  pay a tax levied and assessed at a rate equivalent to }{\fs24\insrsid4414049 -}{
\fs24\insrsid10630811  
\par }{\fs24\insrsid10630811\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10630811 {\fs24\insrsid10630811\charrsid10630811 (a}{\fs24\insrsid10630811 ) }{\fs24\insrsid10630811\charrsid14494463 
1% of the gross income derived by that person from the transport of all goods and commodities from the Cook Islands to any place outside the Cook Islands;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10630811 {\fs24\insrsid10630811\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10630811 {\fs24\insrsid10630811 (b) 10% }{\fs24\insrsid10630811\charrsid14494463 of the gross income derived b
y that person from the transport of all persons from the Cook Islands to any place outside the Cook Islands or between any islands of the Cook }{\fs24\insrsid9332568 I}{\fs24\insrsid10630811\charrsid14494463 slands.}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid10630811\charrsid14494463 
\par (2)}{\fs24\insrsid14494463  }{\fs24\insrsid10630811 N}{\fs24\insrsid10630811\charrsid14494463 o turnover tax shall be payable, on any income derived from the transport of goods and commodities }{\fs24\insrsid10630811 between any islands of the Cook }{
\fs24\insrsid10630811\charrsid14494463 Islands.}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811 [}{\i\fs24\insrsid10630811\charrsid10630811 Amended Act 1984-85/26; Act 1987/14}{\fs24\insrsid10630811 ]
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid10630811\charrsid14494463 
\par 26. }{\fs24\ul\insrsid10630811\charrsid10630811 Tax on insurance business}{\fs24\insrsid10630811\charrsid14494463  - (1) Ever}{\fs24\insrsid10630811 y person engaging or continuing }{\fs24\insrsid10630811\charrsid14494463 within the Cook Is}{
\fs24\insrsid8015211 lands}{\fs24\insrsid10630811\charrsid14494463  in the business of insurance shall pay a tax levied and assessed at a rate equivalent to 10% }{\fs24\insrsid10630811 o}{\fs24\insrsid10630811\charrsid14494463 
f the gross premiums derived or obtained from such insurance.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid10630811\charrsid14494463 
\par (2) For the purpose of this section a person shall be deemed to be engaging or continuing within t
he Cook Islands in the business of insurance if the risk or property insured is situated within the Cook Islands or the premium in respect of any contract of insurance is derived or obtained from the Cook Islands.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811\charrsid14494463 [}{\i\fs24\insrsid10630811\charrsid10630811 Amended Act 1984-85/26; Act 1987/14}{\fs24\insrsid10630811 ]
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid10630811\charrsid14494463 
\par 27. }{\fs24\ul\insrsid10630811\charrsid10630811 Tax on export sales}{\fs24\insrsid10630811\charrsid14494463  - Every person who sells for export outside the Cook}{\fs24\insrsid14494463  }{\fs24\insrsid8548217 Islands }{
\fs24\insrsid10630811\charrsid14494463 any}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 qualifying goods}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 shall pay a tax levi}{\fs24\insrsid10630811 ed}{
\fs24\insrsid10630811\charrsid14494463  and assessed at a rate equal to 1}{\fs24\insrsid10630811 %}{\fs24\insrsid10630811\charrsid14494463  of the gross proceeds thereof provided that the gross proceeds from the sale of fresh primary p
roduce for exports will not attract turnover tax.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811\charrsid14494463 [}{\i\fs24\insrsid10630811\charrsid10630811 Amended Act 1981/41}{\fs24\insrsid10630811 ]
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid10630811\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid16398141 28. }{\fs24\ul\insrsid10630811\charrsid16398141 Tax on other business}{\fs24\insrsid10630811\charrsid16398141 
 - (1) Every person engaging or continuing within the Cook Islands in any business, not included in the pr}{\fs24\insrsid4146273\charrsid16398141 e}{\fs24\insrsid10630811\charrsid16398141 
ceding sections or any other provisions of this Act, shall pay a tax levied and assessed at a rate equal to 10% of the gross income thereof.
\par }{\fs24\insrsid10630811\charrsid14494463 
\par (2) The rate prescribed by sub-section (1) hereof shall apply}{\fs24\insrsid10630811  }{\fs24\insrsid10630811\charrsid14494463 to a business taxable under one or more of the proceeding sections }{\fs24\insrsid16398141 o}{
\fs24\insrsid10630811\charrsid14494463 r other provisions of .this Act, as to any gross income thereof not taxed thereunder as gross income or gross proceeds of sales}{\fs24\insrsid10630811  }{\fs24\insrsid10630811\charrsid14494463 
or by taxing an equivalent value of products}{\fs24\insrsid10630811 ,}{\fs24\insrsid10630811\charrsid14494463  unless specifically exempted.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811 [}{\i\fs24\insrsid10630811\charrsid10630811 Amended Act 1984-85/26; Act 1987/14}{\fs24\insrsid10630811 ]
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid10630811\charrsid14494463 
\par }{\fs24\insrsid10630811 29. }{\fs24\ul\insrsid10630811\charrsid10630811 Segregation of gross income, etc on records and returns}{\fs24\insrsid10630811  }{\fs24\insrsid4414049 -}{\fs24\insrsid16398141  (1) }{\fs24\insrsid10630811 
The imposition of taxes and the application of tax rates shall not depend upon the business in which the taxpayer is primarily engaged. One business may be subject to two or more tax rate
s. If a business is within the purview of 2 or more of the provisions of sections 18 to 28 of this Act or other provisions of this Act all them apply, each }{\fs24\insrsid10515952 
provision being applicable to the appropriate item of gross income, gross proceeds of sale, or value or products.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid10515952 
\par (2) Any person engaging or continuing in a business having gross income, gross proceeds of sales and value of products, for any of these as the case may be, taxable at difference rates, shall be subject to taxation upon the aggregate amount 
of the gross income, gross proceeds of sales, and value of products of the business at the highest rate applicable to any part of the aggregate, unless he shall segregate, the parts taxable at different rates on his records and in his returns.
\par 
\par (3) The burden of proving that the segregation was correctly made shall be upon the taxpayer.
\par 
\par (4) The same item of gross income, gross proceeds of sales or value of products shall not be subject to the impositions of more than one rate of turnover tax.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid16398141 [}{\i\fs24\insrsid16398141\charrsid16398141 Amended Act 1984}{\i\fs24\insrsid3822575 -}{\i\fs24\insrsid16398141\charrsid16398141 85/26}{
\fs24\insrsid16398141 ]}{\fs24\insrsid10515952 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid16398141 
\par }{\fs24\insrsid10515952 30. }{\fs24\ul\insrsid10515952\charrsid10515952 Further provisions as to application of tax}{\fs24\insrsid10515952  }{\fs24\insrsid4414049 -}{\fs24\insrsid10515952 
 (1) Where a coin operated device produces gross income which is divided between the owner or operator of the device, and the owner or operator of the premises were such device is located, the
 tax imposed by this Act shall apply to each such person only in respect of his portion of the proceeds.
\par 
\par (2) Where gate receipts or other admissions are divided between the person furnishing or producing a play, concert, lecture, athletic event or similar spectacle (including any motion picture showing) and a promoter (including any proprietor or other opera
t
or of a motion picture house) offering the spectacle to the public, the tax imposed by this Act shall, if the promoter is subject to the tax imposed by this Act, apply only to the promoter measured by the whole of the proceeds, and the promoter shall be a
u
thorised to deduct and withhold from the portion of the proceeds payable to the person furnishing or producing the spectacle the amount of the tax payable by him upon such portion. No tax shall apply to a promoter with respect to such portion of the proce
eds as is payable to a person furnishing or producing the spectacle who is exempted by section 35 from taxation upon such activity.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10515952 [}{\i\fs24\insrsid10515952\charrsid10515952 Amended Act 1984-85/26}{\fs24\insrsid10515952 ]}{\fs24\insrsid10515952\charrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid10630811 
\par }{\fs24\insrsid10515952 31. }{\fs24\ul\insrsid10515952\charrsid5660518 Consideration paid not indicative of true value}{\fs24\insrsid10515952  }{\fs24\insrsid4414049 -}{\fs24\insrsid10515952  Where the sale of any product
s is made by a taxpayer, taxable under this Act, to other affiliated companies or persons, or under circumstances where the consideration paid, if any, is not indicative of the true value of the products sold the taxpayer}{\fs24\insrsid5660518 
 shall pay the tax imposed by this 
Act measured by the value, corresponding as nearly as possible to the gross proceeds of sale of similar products, of like quality and character, by other persons, where no common interest exists between the buyer and seller but the circumstances and condi
tions are otherwise similar. If no such comparable sales exist between non-affiliated buyers and sellers, the Department shall prescribe equitable and uniform rules for ascertaining the value.}{\fs24\insrsid10515952 
\par }{\fs24\insrsid5660518 
\par 32. }{\fs24\ul\insrsid5660518\charrsid5660518 Principles applicable in certain situations}{\fs24\insrsid5660518  }{\fs24\insrsid4414049 -}{\fs24\insrsid5660518  A person or c
ompany having shareholders or members including any corporation, association, group, trust, partnership, or other persons shall be taxable upon its business with them, and they shall be taxable upon their business with it. A person or company, whether or 
n
ot called a co-operative, through which shareholders or members are pursuing a common objective including the obtaining of property or services for their individual businesses or use, or the marketing of their individual products, shall be a taxable perso
n, and such facts shall not give rise to any tax exemption of tax benefit except as specifically provided. Even though a business has some of the aspects of agency it shall not be so regarded unless it is a true agency. }{
\fs24\insrsid10630811\charrsid14494463 The reimbursement of costs or advances made for or on behalf of one per by another shall not constitute gross income of the latter, unless person receiving such reimbursement also receives additional moneta}{
\fs24\insrsid5660518 ry}{\fs24\insrsid10630811\charrsid14494463  consideration for making such costs or advances.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid5660518\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 33. }{\fs24\ul\insrsid10630811\charrsid5660518 Apportionment}{\fs24\insrsid10630811\charrsid14494463  - If any person 
engaged in business both within and outside the Cook Islands or in selling goods for delivery outside the Cook Islands and if under the laws of the Cook Islands the entire gross income of such person cannot be included in the measure of his tax, there sha
l
l be apportioned to the Cook Islands and included in the measure of the tax that portion of the gross income which is derived from activities within the Cook Islands, to the extent that the apportionment is required by the laws of the Cook Islands. In oth
er cases, if an}{\fs24\insrsid16003481 d to the extent that the apportion}{\fs24\insrsid10630811\charrsid14494463 ment cannot be accurately made by separate accounting methods, ther}{\fs24\insrsid16003481 e}{\fs24\insrsid10630811\charrsid14494463 
 shall be apportioned to the Cook Islands and included in the measure of this tax that portion of the total gross income, so requiring appor
tionment, which the cost of doing business within the Cook Islands, applicable to the gross income, bears to the cost of doing business both within and outside the Cook Islands, applicable to the gross income.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid16003481\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 34. }{\fs24\ul\insrsid10630811\charrsid16003481 Amounts not taxable}{\fs24\insrsid10630811\charrsid14494463  - This Act, shall not }{\fs24\insrsid16003481 ap}{\fs24\insrsid6840683 ply to the following amounts: -}{
\fs24\insrsid10630811 
\par }{\fs24\insrsid16003481\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16003481 {\fs24\insrsid10630811\charrsid14494463 (a) Amounts received under life insurance policies and contracts paid by reason of the death of the insured;}{
\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid16003481\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16003481 {\fs24\insrsid10630811\charrsid14494463 (b) Amounts received (other than amounts paid by reason of death of the insured) under life insurance, endowme
nt of annuity contracts, either during the term or at maturity, or upon surrender of the contract;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid16003481\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16003481 {\fs24\insrsid10630811\charrsid14494463 (}{\fs24\insrsid16003481 c}{\fs24\insrsid10630811\charrsid14494463 ) Amounts received under any accident insurance or}{
\fs24\insrsid16003481  }{\fs24\insrsid10630811\charrsid14494463 health insurance policy or contract or under legislation relating to workers compensation or employers}{\fs24\insrsid4414049 '}{\fs24\insrsid10630811\charrsid14494463 
 liability, as compensation for personal injuries, death or sickness including also the amount of any damages or other compensatio}{\fs24\insrsid16003481 n}{\fs24\insrsid10630811\charrsid14494463 
 received, whether as a result of action or by private agreeme}{\fs24\insrsid16003481 nt}{\fs24\insrsid10630811\charrsid14494463  between the parties on account of the personal injuries, death or sickness;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid16003481 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16003481 {\fs24\insrsid16003481 (d) }{\fs24\insrsid10630811\charrsid14494463 
The value of all property of every kind and sort acquired by gift, bequest or devise, and the value of all property acquired by descent or }{\fs24\insrsid16003481\charrsid14494463 inheritance}{\fs24\insrsid10630811\charrsid14494463 ;}{
\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid16003481\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16003481 {\fs24\insrsid10630811\charrsid14494463 (e) Amounts received by any person as compensatory damages for an}{\fs24\insrsid16398141 y}{
\fs24\insrsid10630811\charrsid14494463  tort injury to him, or in his character or reputation, or received as compensatory damages for any tort injuring to}{\fs24\insrsid16003481  }{\fs24\insrsid10630811\charrsid14494463 
or destruction of property, whether as the result of action or by private agreement between the parties;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid16003481\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16003481 {\fs24\insrsid16003481 (}{\fs24\insrsid10630811\charrsid14494463 f) Amounts received as salaries or wages for services rendere}{\fs24\insrsid16003481 
d by an employee to an employer;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid16003481\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16003481 {\fs24\insrsid16003481 (g) }{\fs24\insrsid10630811\charrsid14494463 Amounts received as maintenance or alimony and other similar}{\fs24\insrsid16003481  }{
\fs24\insrsid10630811\charrsid14494463 payments and settlements}{\fs24\insrsid16003481 ;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid16003481\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16003481 {\fs24\insrsid10630811\charrsid14494463 (h) Amounts received as old age, destitute, or infirmed persons, or child, benefits under any legislation in force in the Cook }{
\fs24\insrsid16003481\charrsid14494463 Islands}{\fs24\insrsid10630811\charrsid14494463  for the time }{\fs24\insrsid16003481\charrsid14494463 being}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 and amounts received as war}{
\fs24\insrsid16003481  pensions;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid16003481\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16003481 {\fs24\insrsid10630811\charrsid14494463 (i) Amounts received as re-payment of capital in respect of any loan or advance;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid16003481\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16003481 {\fs24\insrsid10630811\charrsid14494463 
(j) Amounts received by any religious charitable or other organisation where the amounts received will not be distributed among its members, but will be}{\fs24\insrsid16003481  }{\fs24\insrsid10630811\charrsid14494463 
used solely for the purposes for which the organisation was formed, provided that an application must b
e made to the Minister for exemption under this paragraph which may be allowed or refused. The Minister may attach such condition or conditions as he considers appropriate where an application is allowed.}{\fs24\insrsid16003481\charrsid14494463 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid16003481 [}{\i\fs24\insrsid16003481\charrsid16003481 Amended Act 1984-85/26}{\fs24\insrsid16003481 ]}{\fs24\insrsid10630811\charrsid14494463 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid16003481 
\par }{\fs24\insrsid10630811\charrsid14494463 35. }{\fs24\ul\insrsid10630811\charrsid16003481 Exemption of low turnover}{\fs24\insrsid10630811\charrsid14494463  - Any pro}{\fs24\insrsid16003481 visions of law to the co}{\fs24\insrsid14381057 ntrary}{
\fs24\insrsid16003481  notwith}{\fs24\insrsid10630811\charrsid14494463 stan}{\fs24\insrsid16003481 di}{\fs24\insrsid10630811\charrsid14494463 ng, there shall}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 exemp}{\fs24\insrsid16003481 
ted from, and excluded from}{\fs24\insrsid10630811\charrsid14494463  measure of, the taxes imposed by this Act: -}{\fs24\insrsid10630811 
\par }{\fs24\insrsid16003481\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16003481 {\fs24\insrsid10630811\charrsid14494463 (a) All sales, and the gross proceeds of all sales, of any tang}{\fs24\insrsid16003481 ible}{
\fs24\insrsid10630811\charrsid14494463  property sold by any person in any one year where th}{\fs24\insrsid14381057 e total of the sales of all }{\fs24\insrsid10630811\charrsid14494463 tangible personal property to which thi}{\fs24\insrsid16003481 s Act}{
\fs24\insrsid10630811\charrsid14494463  applies by that person in that year does n}{\fs24\insrsid16003481 ot exceed $500;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid16003481\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16003481 {\fs24\insrsid10630811\charrsid14494463 (}{\fs24\insrsid16003481 b}{\fs24\insrsid10630811\charrsid14494463 
) The gross income of any person engaging in any profession, occupation, service business or calling in any one year whe}{\fs24\insrsid16003481 re}{\fs24\insrsid10630811\charrsid14494463  the total gross income of that person from all professions,}{
\fs24\insrsid16003481  }{\fs24\insrsid14381057 trades, }{\fs24\insrsid10630811\charrsid14494463 occupations, service business or calling engaged in by him that year does not exceed $500.}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid16003481 
\par }{\fs24\insrsid10630811\charrsid14494463 35A.}{\fs24\insrsid14494463  }{\fs24\ul\insrsid10630811\charrsid16003481 Exemption from Turnover Tax}{\fs24\insrsid10630811\charrsid14494463  -}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 (1)}{
\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 The Minister}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 may }{\fs24\insrsid16003481 from time to time where any new industry or }{\fs24\insrsid10630811\charrsid14494463 
enterprise is}{\fs24\insrsid16003481  established in the Cook Islands, or where any }{\fs24\insrsid10630811\charrsid14494463 industry or }{\fs24\insrsid16003481 enterprise in the Cook Islands is materially expanded, or
 where any person invests money in the Cook Islands, and the Minister is satisfied that such establishment, expansion or inv}{\fs24\insrsid10630811\charrsid14494463 estment}{\fs24\insrsid16003481 , }{\fs24\insrsid10630811\charrsid14494463 
as the case may be will contribute to the economic development of the Cook Islands, he may issue a turnover}{\fs24\insrsid16003481  tax }{\fs24\insrsid10630811\charrsid14494463 variation certificate exempting the person or pe}{\fs24\insrsid16003481 rsons}
{\fs24\insrsid10630811\charrsid14494463  contributing to the establishment or expansion of }{\fs24\insrsid16003481 that }{\fs24\insrsid10630811\charrsid14494463 industry, or undertaking that investment, and that p}{\fs24\insrsid16003481 
erson shall be entitled to such exemptions in respect of turnover tax on the gross income derived, whether directly or indirectly, from that industry, enterprise or investment as are specified in the certificate.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid16003481 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) The Minister shall refer all application}{\fs24\insrsid14381057 s}{\fs24\insrsid10630811\charrsid14494463  }{\fs24\insrsid14381057 for exemptions }{\fs24\insrsid10630811\charrsid14494463 
under this section to the Cabinet and shall}{\fs24\insrsid13907142  have regard to}{\fs24\insrsid10630811\charrsid14494463  any recommendations made by the Cabinet }{\fs24\insrsid16003481 when issuing or }{\fs24\insrsid10630811\charrsid14494463 
declining to issue a certificate under}{\fs24\insrsid16003481  this section.}{\fs24\insrsid10630811\charrsid14494463 
\par }{\fs24\insrsid16003481 
\par }{\fs24\insrsid10630811\charrsid14494463 (3) Exemption}{\fs24\insrsid13907142 s}{\fs24\insrsid10630811\charrsid14494463  granted by the Minister }{\fs24\insrsid13907142 under the }{\fs24\insrsid10630811\charrsid14494463 
authority of this section may take the form of }{\fs24\insrsid13907142 exemptions of }{\fs24\insrsid10630811\charrsid14494463 all or part of the gross income from turnover}{\fs24\insrsid16003481  tax}{\fs24\insrsid13907142 , reduction in 
the rates of turnover tax}{\fs24\insrsid16003481  on all or part of the gross income, partial or total exemption from payment of turnover tax or may be in such form as the Minister considers desirable and appropriate to the particular case.}{
\fs24\insrsid10630811 
\par }{\fs24\insrsid16003481\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (4) A certificate issued under this section }{\fs24\insrsid13907142 shall }{\fs24\insrsid10630811\charrsid14494463 specify the period during which any exemption is}{\fs24\insrsid4874943  to apply, }{
\fs24\insrsid10630811\charrsid14494463 and the period as specified may from time to time }{\fs24\insrsid13907142 be extended }{\fs24\insrsid10630811\charrsid14494463 by the Minister by a subsequent certificate.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (5) Any certificate issued under this secti}{\fs24\insrsid4874943 on}{\fs24\insrsid10630811\charrsid14494463  }{\fs24\insrsid13907142 may }{\fs24\insrsid10630811\charrsid14494463 be made upon or subject}{
\fs24\insrsid4874943  }{\fs24\insrsid10630811\charrsid14494463 to such conditions as the Minister thinks fit and may at any time be revoked by the Minis}{\fs24\insrsid4874943 ter if}{\fs24\insrsid10630811\charrsid14494463 
 the taxpayer fails to comply with any such conditions.}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid4874943 [}{\i\fs24\insrsid4874943\charrsid4874943 Added Act 1984-8}{\i\fs24\insrsid10630811\charrsid4874943 5/26; Amended Act 1987/14}{
\fs24\insrsid10630811\charrsid14494463 ]
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid4874943 
\par }{\fs24\insrsid10630811\charrsid14494463 36.}{\fs24\insrsid14494463  }{\fs24\ul\insrsid10630811\charrsid4874943 Agents in the case of absentees}{\fs24\insrsid10630811\charrsid14494463  - (1) }{\fs24\insrsid4874943 W}{
\fs24\insrsid10630811\charrsid14494463 here any person acts or assumes to act as the agent o}{\fs24\insrsid4874943 f}{\fs24\insrsid10630811\charrsid14494463 
 any other person who is outside the Cook Islands or does not have place of business in the Cook Islands he shall be liable to the same turnover tax and all obligations imposed by this Act as if he were the principal for whom he so acts or assumes to act.
}{\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 
(2) where any person in the Cook Islands enters into any contract of insurance or contract of hire of any film with any person who does not have a place of business in the Cook Islands he shall be deemed to be the agent of that perso}{
\fs24\insrsid4874943 n for the purposes of sub-sectio}{\fs24\insrsid10630811\charrsid14494463 n (1) of this section.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4874943 {\b\fs24\insrsid10630811\charrsid4874943 PART IV - RETURNS AND PAYMENTS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid4874943 37. }{\fs24\ul\insrsid4874943\charrsid4874943 Monthly or quarterly return}{\fs24\insrsid4874943  }{\fs24\insrsid10630811\charrsid14494463 - (1) Th}{\fs24\insrsid4874943 e taxes levied under this Act sh}{
\fs24\insrsid10630811\charrsid14494463 a}{\fs24\insrsid4874943 ll}{\fs24\insrsid14494463  }{\fs24\insrsid4874943 b}{\fs24\insrsid10630811\charrsid14494463 e payable}{\fs24\insrsid14494463  }{\fs24\insrsid4874943 i}{\fs24\insrsid10630811\charrsid14494463 
n monthly instalments on or before the 20th day of the calendar month following the month in which they accrue. The taxpayer shall, on or before the 20th day of the calendar month complete and sign a return of the instalment of tax for which he is liable 
for the preceding month and transmit the same, together with a remittance in the form required by section 38, for the amount of the tax to the office of the Department.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) Notwithstanding anything contained in sub-section (1) hereof, the Collector may, fo
r good cause, permit a taxpayer to file his return required under this section and make payments thereon on a quarterly basis during the calendar year, the return and payment to be made on or before the 20th day of the calendar month after the close of ea
ch quarter, to wit, on or before}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 
April 20, July 20, October 20 and January 20, provided that the Collector is satisfied that the grant of such permit will not jeopardize the collection of the taxes due thereon and further that the Collector is satisfied that}{\fs24\insrsid4874943  }{
\fs24\insrsid10630811\charrsid14494463 the taxpayer}{\fs24\insrsid4414049 '}{\fs24\insrsid10630811\charrsid14494463 s total tax liabi
lity for the calendar year under this Act will not exceed $200. The Collector may also for good cause, permit a taxpayer to make mont}{\fs24\insrsid4874943 h}{\fs24\insrsid10630811\charrsid14494463 
ly payments based on his estimated quarterly liability, provided the taxpayer shall file a reconciliat}{\fs24\insrsid4874943 i}{\fs24\insrsid10630811\charrsid14494463 on at the end of each quarter during the calendar year, as herein provided.}{
\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (3) If a taxpayer filing his return on a qua}{\fs24\insrsid4874943 r}{\fs24\insrsid10630811\charrsid14494463 
terly basis, as herein provided, does not conform to the requirements of this Act or regulations made thereunder, the filing of his return or the payment
 of the taxes due thereon, or if the liability of the taxpayer who possesses a permit to file his return and to make payments on a quarterly basis exceeds $200 in turnover taxes during the calendar year, or if the Collector determines that any such quarte
rly filing or return would unduly jeopardize the proper administration of this Act, the Collector may, at any time, revoke a taxpayer}{\fs24\insrsid4414049 '}{\fs24\insrsid10630811\charrsid14494463 
s permit, in which case the taxpayer shall then be required to file his return and make payments thereon as provided in sub-section (1) of this section.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid6840683 38}{\fs24\insrsid10630811\charrsid14494463 . }{\fs24\ul\insrsid10630811\charrsid4874943 Remittances}{\fs24\insrsid10630811\charrsid4874943  -}{\fs24\insrsid10630811\charrsid14494463  All remittances of taxes imposed by this Act sha}
{\fs24\insrsid4874943 ll}{\fs24\insrsid10630811\charrsid14494463  be made by money, bank draft, cheque, cashier}{\fs24\insrsid4414049 '}{\fs24\insrsid10630811\charrsid14494463 
s cheque, money order or certificate of deposit to the office of the Department or such other place as shall be determined by }{\fs24\insrsid4874943 the Minister and notified in Gaz}{\fs24\insrsid10630811\charrsid14494463 
ette. The Department shall issue its receipts therefor to the taxpayer and shall pay the moneys into the Cook Islands Government Account to be kept and accounted for as provided by law.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 39. }{\fs24\ul\insrsid10630811\charrsid4874943 Annual return}{\fs24\ul\insrsid4874943\charrsid4874943 , payment}{\fs24\ul\insrsid10630811\charrsid4874943  of tax}{\fs24\insrsid10630811\charrsid14494463  - On o}{
\fs24\insrsid4874943 r before the 20th day of April}{\fs24\insrsid10630811\charrsid14494463  after the en}{\fs24\insrsid4874943 d}{\fs24\insrsid10630811\charrsid14494463  o}{\fs24\insrsid4874943 f}{\fs24\insrsid10630811\charrsid14494463 
 the tax year each taxpayer shall make a retu}{\fs24\insrsid4874943 rn}{\fs24\insrsid10630811\charrsid14494463  showing the value of products, gross proceeds}{\fs24\insrsid4874943  of sales or gross income}{\fs24\insrsid10630811\charrsid14494463 
 and compute the amount of tax chargeable against him in accordance with
 this Act and deduct the amount of monthly payments (as hereinbefore provided), and transmit with his report a remittance in the form required by section 38 of this Act covering the residue of the tax chargeable against him to the office of the Department
. The return shall be signed by the taxpayer, if made by an individual, or by a director or secretary if made on behalf of a company or if made on behalf of a partnership firm, society, un-}{\fs24\insrsid1259750\charrsid14494463 incorporated}{
\fs24\insrsid10630811\charrsid14494463  association, group, trust or other entity, any individual delegated by the entity shall sign the same on behalf of the taxpayer. If fo}{\fs24\insrsid4874943 r}{\fs24\insrsid10630811\charrsid14494463 
 any reason it is not practicable for the individual taxpayer to sig}{\fs24\insrsid4874943 n}{\fs24\insrsid10630811\charrsid14494463  the return, it may be done by a duly authorised agent. The Collect}{\fs24\insrsid1259750 or,}{
\fs24\insrsid10630811\charrsid14494463  for good cause shown may extend the time for making the return on the application of any taxpayer and grant such reasonable additions time within which to make the same as may, by it, be deemed advisable.}{
\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 40.}{\fs24\insrsid14494463  }{\fs24\ul\insrsid10630811\charrsid4874943 Filing of return}{\fs24\ul\insrsid1259750 :}{\fs24\ul\insrsid14494463\charrsid4874943  }{\fs24\ul\insrsid10630811\charrsid4874943 Inspection}{
\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 - (1)}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 All monthly and annual}{\fs24\insrsid4874943  }{\fs24\insrsid1259750 returns shall be}{
\fs24\insrsid10630811\charrsid14494463  transmitted to the office of the Department.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) Monthly and annual returns shall be available for Inspection b}{\fs24\insrsid1259750 y}{\fs24\insrsid10630811\charrsid14494463  }{\fs24\insrsid1259750 O}{\fs24\insrsid10630811\charrsid14494463 
fficers of the Department and not otherwise.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (3) The Department may destroy the monthly returns filed pursuant to section 37 of this Act or any of them upon the expiration of 7 }{\fs24\insrsid4874943 y}{\fs24\insrsid10630811\charrsid14494463 
ears after the end of the calendar year in which the taxes so returned accrued.}{\fs24\insrsid4874943\charrsid14494463 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811\charrsid14494463 [}{\i\fs24\insrsid10630811\charrsid4874943 Amended Act 1984-85/26}{\fs24\insrsid10630811\charrsid14494463 ]}{\fs24\insrsid10630811 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 41. }{\fs24\ul\insrsid10630811\charrsid4874943 Erroneous returns}{\fs24\ul\insrsid1259750 ,}{\fs24\ul\insrsid10630811\charrsid4874943  disallowances of exem}{\fs24\ul\insrsid4874943\charrsid4874943 p}{
\fs24\ul\insrsid10630811\charrsid4874943 tion}{\fs24\ul\insrsid1259750 ,}{\fs24\ul\insrsid14494463\charrsid4874943  }{\fs24\ul\insrsid4874943 payment}{\fs24\insrsid10630811\charrsid14494463  -}{\fs24\insrsid4874943  (1) }{
\fs24\insrsid10630811\charrsid14494463 I}{\fs24\insrsid4874943 f any return made}{\fs24\insrsid10630811\charrsid14494463  }{\fs24\insrsid4874943 i}{\fs24\insrsid10630811\charrsid14494463 s erroneous, or }{\fs24\insrsid4874943 i}{
\fs24\insrsid10630811\charrsid14494463 s so de}{\fs24\insrsid4874943 fi}{\fs24\insrsid10630811\charrsid14494463 c}{\fs24\insrsid4874943 i}{\fs24\insrsid10630811\charrsid14494463 
ent as not to disclose the full tax liability, or if the taxpayer, in his return, disclaims liability for the tax on any gross income or gross proceeds of sales liable to the tax, or if the taxpayer appl}{\fs24\insrsid4874943 ies}{
\fs24\insrsid10630811\charrsid14494463  for an exemption to which he is not entitled, the Collector shall correct the error or assess the proper amount of taxes.
\par }{\fs24\insrsid4874943 
\par }{\fs24\insrsid10630811\charrsid14494463 If such recomputation results in an additional tax liability,}{\fs24\insrsid4874943  }{\fs24\insrsid10630811\charrsid14494463 
or if the Collector proposes to assess any gross income or gross proceeds of sales by reason of the disallowance of an
 exemption claimed in the return or for which application has been filed, the Collector shall first give notice to the taxpayer of the proposed assessment, and the taxpayer shall thereupon have an opportunity within 30 days to confer with the Collector. A
fter the expiration of 30 days from the notification the Collector shall assess the gr}{\fs24\insrsid4874943 oss }{\fs24\insrsid10630811\charrsid14494463 income,}{\fs24\insrsid4874943  }{\fs24\insrsid10630811\charrsid14494463 
or gross proceeds of sales of the taxpayer or any portion thereof which the collector believes has not theretofore been assessed, }{\fs24\insrsid8273175 and }{\fs24\insrsid10630811\charrsid14494463 shall give notice to the 
taxpayer of the amount of tax, and the amount thereof shall be paid within 20 days after the date the }{\fs24\insrsid8273175 notice}{\fs24\insrsid10630811\charrsid14494463 
 was mailed, properly addressed to the taxpayer at his last known address or place of business.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid4874943 (}{\fs24\insrsid10630811\charrsid14494463 2) No preliminary notice shall be necessary where the amount of the tax is calculated by the Collector from gross income returned the taxpayer as subject to th}{\fs24\insrsid4874943 e}{
\fs24\insrsid10630811\charrsid14494463  tax (unless the taxpayer shall have}{\fs24\insrsid4874943  }{\fs24\insrsid10630811\charrsid14494463 claimed that the applicable rate of tax is lower than the rate of tax applied by the Collector), in such case
 the tax shall be due and payable on the 10th day after the date the statement was mailed.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 In a case of disallowance of an exemption for which application was made the Department, before making an assessment may require}{\fs24\insrsid4874943  }{\fs24\insrsid10630811\charrsid14494463 
the taxpayer to file information returns}{\fs24\insrsid4874943  }{\fs24\insrsid10630811\charrsid14494463 
as to his gross income or gross proceeds of sales within such reasonable time as the Department may allow, and in the event of failure, neglect, or refusal to comply with the demand, the Department shall make an assessment under section 43 of this Ac
t in lieu of this section.}{\fs24\insrsid4874943\charrsid14494463 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811\charrsid14494463 [}{\i\fs24\insrsid10630811\charrsid4874943 Amended Act 1984-85/26: Act 1991-92/37}{\fs24\insrsid10630811\charrsid14494463 ]}{
\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 42. }{\fs24\ul\insrsid10630811\charrsid4874943 Refunds and credits}{\fs24\insrsid10630811\charrsid14494463  - If the amount already paid exce}{\fs24\insrsid4874943 eds that which sh}{
\fs24\insrsid10630811\charrsid14494463 ou}{\fs24\insrsid4874943 ld}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 
have been paid on the basis of the tax recomputed as provided in section 41 of this Act, the excess so paid shall be immediately refunded to the taxpayer. The taxpayer may, at his election, apply an overpayment credit to taxes subsequently accruing hereun
der.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 43. }{\fs24\ul\insrsid10630811\charrsid4874943 Failure to make a return}{\fs24\insrsid10630811\charrsid14494463  - If any person fails, neglects or refuses to}{\fs24\insrsid14494463  }{\fs24\insrsid11632368 mak}{
\fs24\insrsid10630811\charrsid14494463 e a return the Collector may as he deems necessary obtain information on which to base the assessment of the tax. After procuring the information the Collector shall assess 
the tax as provided in section 41 of this Act, and the assessment shall be presumed to be correct until and unless, upon an objection duly taken as provided in this Act, the contrary shall be clearly}{\fs24\insrsid4874943  }{
\fs24\insrsid10630811\charrsid14494463 proved by the person assessed, and the burden of proof upon such objection shall be upon the person assessed to disprove the correctness of the assessment.}{\fs24\insrsid4874943\charrsid14494463 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid4874943 [}{\i\fs24\insrsid10630811\charrsid4874943 Amended Act 1984-85/26}{\fs24\insrsid10630811\charrsid14494463 ]}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 44. }{\fs24\ul\insrsid10630811\charrsid4874943 Additions to taxes for non-compliance or evasion}{\fs24\insrsid10630811\charrsid14494463  - There shall be added to an}{\fs24\insrsid4874943 d}{
\fs24\insrsid10630811\charrsid14494463  become part o}{\fs24\insrsid4874943 f}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 t}{\fs24\insrsid4874943 he}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 tax imposed}{
\fs24\insrsid14494463  }{\fs24\insrsid4874943 b}{\fs24\insrsid10630811\charrsid14494463 y t}{\fs24\insrsid4874943 hi}{\fs24\insrsid10630811\charrsid14494463 s Act and collected as such:}{\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4874943 {\fs24\insrsid10630811\charrsid14494463 
(a) In the case of any failure to file any return required to be filed on the date prescribed therefor (determined with regard to any extension of time for filing), unless it is shown that the failure is due to reasonable caus
e and not due to neglect, there shall be added to the amount required to be shown as tax}{\fs24\insrsid4874943  }{\fs24\insrsid10630811\charrsid14494463 
on the return 5% of the amount of the tax if the failure is for not more than one month, with an additional 5% for each additional month or part thereof during which t
he failure continues, not exceeding 25% in the aggregate. For the purposes of this paragraph, the amount of tax required to be shown on any return shall be reduced by the amount of any}{\fs24\insrsid4874943  }{\fs24\insrsid10630811\charrsid14494463 
part of the tax which is paid on or before the date prescribed for payment of the tax and by the amount of any credit against the tax which may be claimed upon the return.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11632368 {\fs24\insrsid11632368 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4874943 {\fs24\insrsid10630811\charrsid14494463 
(b) If any part of any underpayment is due to negligence or intentional disregard of the provisions of this Act (but without intent to defraud) there shall be added to the tax an amount of up to 10% of the underpayment as determined by the Collector.}{
\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid4874943\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4874943 {\fs24\insrsid10630811\charrsid14494463 (c)}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 
If any part of the underpayment of tax required to be shown on any return is due to fraud, there shall be added to the tax an amount of up to 50% of the underpayment as determined by the Collector.}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid4874943\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4874943 {\fs24\insrsid10630811\charrsid14494463 
(d) If any penalty is assessed under paragraph (c) hereof for an underpayment of tax which is required to be shown on a return no penalty under paragraph (a) hereof shall be assessed with respect to the same underpayment.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811\charrsid14494463 [}{\i\fs24\insrsid10630811\charrsid4874943 Amended Act 1991-92/37}{\fs24\insrsid10630811\charrsid14494463 ]}{\fs24\insrsid10630811 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 44A. }{\fs24\ul\insrsid10630811\charrsid4874943 Relief from tax}{\fs24\insrsid4874943  }{\fs24\insrsid10630811\charrsid14494463 
- Sections 218, 219, and 220 of the Income Tax Act 1972 shall apply as if they were incorporated in and formed part of this Act. Any reference therein to }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 tax}{\fs24\insrsid8004175 "}{
\fs24\insrsid10630811\charrsid14494463  shall be read as a reference to }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 turnover tax}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 
, and with all other necessary modifications.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811\charrsid14494463 [}{\i\fs24\insrsid10630811\charrsid4874943 Added Act 1991-92/37}{\fs24\insrsid10630811\charrsid14494463 ]}{\fs24\insrsid10630811 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid4874943\charrsid14494463 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4874943 {\b\fs24\insrsid10630811\charrsid4874943 PART V }{\b\fs24\insrsid4414049 -}{\b\fs24\insrsid10630811\charrsid4874943  GENERAL
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 45. }{\fs24\ul\insrsid10630811\charrsid4874943 Inspection of documents}{\fs24\ul\insrsid4874943\charrsid4874943 ,}{\fs24\ul\insrsid10630811\charrsid4874943  inquiry}{\fs24\insrsid10630811\charrsid14494463 
 - The provisions of sections 232 to 23}{\fs24\insrsid4874943 6}{\fs24\insrsid10630811\charrsid14494463  }{\fs24\insrsid4874943 (}{\fs24\insrsid10630811\charrsid14494463 bot}{\fs24\insrsid4874943 h}{\fs24\insrsid10630811\charrsid14494463  inclusive}{
\fs24\insrsid4874943 )}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 o}{\fs24\insrsid4874943 f}{\fs24\insrsid10630811\charrsid14494463  the Inc}{\fs24\insrsid4874943 ome Tax Act 1972 shall apply as }{
\fs24\insrsid10630811\charrsid14494463 if they were incorporated in and formed part of this Act.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid4874943\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 46.}{\fs24\insrsid14494463  }{\fs24\ul\insrsid10630811\charrsid9718519 Limitation}{\fs24\ul\insrsid14494463\charrsid9718519  }{\fs24\ul\insrsid10630811\charrsid9718519 period}{
\fs24\insrsid10630811\charrsid14494463  - (1) The amount of turnover taxes imposed by this Act shall }{\fs24\insrsid9718519 b}{\fs24\insrsid10630811\charrsid14494463 
e assessed or levied within 7 years after the Annual return was filed or within three years of the due date presc
ribed for the filing of the said return, whichever is later, and no proceeding in Court without assessment for the collection of any such taxes shall be begun after the expiration of such period, provided that:}{\fs24\insrsid10630811 
\par }{\fs24\insrsid9718519\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9718519 {\fs24\insrsid10630811\charrsid14494463 (a) In the case of a false or fraudulent ret
urn with intent to evade tax, or of a failure to file the annual return, the tax may be assessed or levied at any time. However, in the case of a return claimed to be fals}{\fs24\insrsid9718519 e}{\fs24\insrsid10630811\charrsid14494463 
 or fraudulent with intent to evade tax, the determination as to the claim must first}{\fs24\insrsid9718519  }{\fs24\insrsid10630811\charrsid14494463 be made by a Judge of the High Court;}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid9718519\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9718519 {\fs24\insrsid10630811\charrsid14494463 
(b) Where, before the expiration of the period prescribed in sub-section (1) of this section, both the Collector and the taxpayer have consented in writing to the assessment or levy of the tax after the date fixed b
y sub-section (1), the tax may be assessed or levied at any time prior to the expiration of the period agreed upon. The period so agreed upon maybe extended by subsequent agreement in writing made before the expiration of the period previously agreed upon
.}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 
(2) No credit or refund shall be allowed more than 7 years after the annual return was filed, or in any case, of payment of tax without the filing of an annual return, more than 7 years after payment of tax, unless a claim for the credit or refund was fi
led within such period. The limitation shall not apply to a credit or refund pursuant t to an objection provided for by Section 48 of this Act.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid6840683\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 47. }{\fs24\ul\insrsid10630811\charrsid9718519 Records to}{\fs24\ul\insrsid9718519\charrsid9718519  b}{\fs24\ul\insrsid10630811\charrsid9718519 e kept;}{\fs24\ul\insrsid14494463\charrsid9718519  }{
\fs24\ul\insrsid10630811\charrsid9718519 examination;}{\fs24\ul\insrsid14494463\charrsid9718519  }{\fs24\ul\insrsid10630811\charrsid9718519 penalties}{\fs24\insrsid10630811\charrsid14494463  - Every taxpayer sha}{\fs24\insrsid9718519 ll}{
\fs24\insrsid10630811\charrsid14494463  keep within the Coo}{\fs24\insrsid9718519 k}{\fs24\insrsid10630811\charrsid14494463  Islands and preserve }{\fs24\insrsid9718519 for a }{\fs24\insrsid10630811\charrsid14494463 
period of 7 years, suitable records of gross proceeds of sales and gross income, and such other books, records of an account and invoices as may be required by the Department and all such books, records, and invoices shall be op
en for examination at any time by the Department or the authorised representative thereof. Any person who contravenes this section shall be guilty of an offence and any director, secretary or other officer of a company who permits, aids or abets the compa
ny to contravene this section shall likewise be guilty of an offence, the penalty for such offence shall be that prescribed by section 53 of t}{\fs24\insrsid9718519 he}{\fs24\insrsid10630811\charrsid14494463 
 Act for individuals, companies or officers of companies, as the case may be, for contravention of that section.}{\fs24\insrsid9718519\charrsid14494463 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid9718519 [}{\i\fs24\insrsid10630811\charrsid9718519 Amended Act 1984-85/26}{\fs24\insrsid10630811\charrsid14494463 ]}{\fs24\insrsid10630811 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid9718519\charrsid14494463 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9718519 {\b\fs24\insrsid10630811\charrsid9718519 PART VI }{\b\fs24\insrsid4414049 -}{\b\fs24\insrsid10630811\charrsid9718519  OBJECTIONS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 48. }{\fs24\ul\insrsid10630811\charrsid9718519 Objections}{\fs24\insrsid10630811\charrsid14494463 
 - Any person who has been assessed for turnover tax for any month or any year may object against the assessment in the manner and within the time and in all other respects as provided in the case of income tax objections by Part IV of the Income}{
\fs24\insrsid9718519  }{\fs24\insrsid10630811\charrsid14494463 Tax Act 1972.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 49. }{\fs24\ul\insrsid10630811\charrsid9718519 Payment and recover of tax}{\fs24\insrsid10630811\charrsid14494463  - The provisions of sections 207 t}{\fs24\insrsid9718519 o}{\fs24\insrsid10630811\charrsid14494463 
 216 (both inclusive) o}{\fs24\insrsid9718519 f}{\fs24\insrsid10630811\charrsid14494463  Part XII of the income Tax Act 1972 relati}{\fs24\insrsid9718519 ng}{\fs24\insrsid10630811\charrsid14494463  to the payment and recovery of tax shall apply as if
 they were incorporated in and formed part of this Act, all reference therein}{\fs24\insrsid9718519  to }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 income tax}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 
 being read as references to }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 turnover tax}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463  and with all other necessary modifications.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 49A.}{\fs24\insrsid14494463  }{\fs24\ul\insrsid10630811\charrsid9718519 Statute of limitation}{\fs24\insrsid10630811\charrsid14494463  - No statute of limitation shall bar or affect any}{\fs24\insrsid9718519  }{
\fs24\insrsid10630811\charrsid14494463 action or remedy for the }{\fs24\insrsid6840683 recovery of tax under this Act.}{\fs24\insrsid9718519 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811\charrsid14494463 [}{\i\fs24\insrsid10630811\charrsid9718519 Added Act 1991-92/37}{\fs24\insrsid10630811\charrsid14494463 ]}{\fs24\insrsid10630811 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid9718519\charrsid14494463 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9718519 {\b\fs24\insrsid10630811\charrsid9718519 PART VII - ENFORCEMENT OF PAYMENT
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid9718519 50. }{\fs24\ul\insrsid9718519\charrsid9718519 B}{\fs24\ul\insrsid10630811\charrsid9718519 ulk sales; penalties}{\fs24\insrsid10630811\charrsid14494463  - (1) In any case of the sale in bulk of the w}{\fs24\insrsid9718519 hol}{
\fs24\insrsid10630811\charrsid14494463 e or a large part of a stock of merchandise and fixtures,}{\fs24\insrsid9718519  }{\fs24\insrsid10630811\charrsid14494463 
or merchandise, or fixtures, or other assets of a business, otherwise than in the ordinary course of trade, and in the regular and usual prosecution of the seller}{\fs24\insrsid4414049 '}{\fs24\insrsid10630811\charrsid14494463 
s business, the seller shall make a}{\fs24\insrsid9718519  }{\fs24\insrsid10630811\charrsid14494463 written and verified report of the bulk sale to the Collector not later than ten days after the possession, or the control, or the title of the property }{
\fs24\insrsid9718519 o}{\fs24\insrsid10630811\charrsid14494463 r any part thereof, has passed to the purchaser. The report shall contain the name and address of the purchaser, a brief description of the property sold and t
he purchase price, the date when the sale is to be or was }{\fs24\insrsid10630811\charrsid9718519 consum}{\fs24\insrsid9718519 m}{\fs24\insrsid10630811\charrsid9718519 ated}{\fs24\insrsid10630811\charrsid14494463 
 and such other facts as the department may require. The purchaser may make the report for the seller.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 
(2) The purchaser of the property shall withhold payment of the purchase price until the receipt of a certificate from the Collector to the effect that all taxes, penalties and interest levied or accrued under this Act against the seller or constituting a
 lien upon the property, have been paid, which certificate shall show on its face that the Department has had notice of the bulk sale and shall also show the names of the seller and purchaser, a brief description}{\fs24\insrsid9718519  }{
\fs24\insrsid10630811\charrsid14494463 of the property sold, and the date of consummation of the sale together with such other information as the collector shall prescribe.
\par }{\fs24\insrsid13894573 
\par }{\fs24\insrsid10630811\charrsid14494463 (3) If the required report of the bulk sale is not made, or if the taxes, penalties and interest shall not be paid within 20 days after the possession, or the contro
l, or the title of the property, or any part therof, has passed to the purchaser, or within such further time as the Collector may allow, the purchaser shall be personally liable to pay to the Crown the amount of all taxes, penalties,}{
\fs24\insrsid9718519  }{\fs24\insrsid10630811\charrsid14494463 and interest levied or accrued under this Act against the seller}{\fs24\insrsid9718519  }{\fs24\insrsid10630811\charrsid14494463 
or constituting a lien upon thereafter accruing, not exceeding, however, the amount of the purchase price, but the issuance of a certificate}{\fs24\insrsid9718519  }{\fs24\insrsid10630811\charrsid14494463 in the prescribed form shall be a complete }{
\fs24\insrsid10630811\charrsid9718519 defen}{\fs24\insrsid6840683 c}{\fs24\insrsid10630811\charrsid9718519 e}{\fs24\insrsid10630811\charrsid14494463  to such liability of the purchaser.}{\fs24\insrsid14494463  }{\fs24\insrsid10630811\charrsid14494463 
In any case of such liability upon the part of the purchaser, a written report thereof shall be made by the purchaser upon the next due date for the payment of gross income taxes.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (}{\fs24\insrsid9718519 4}{\fs24\insrsid10630811\charrsid14494463 ) For the purposes of this section the }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 purchase price}{\fs24\insrsid8004175 "}{
\fs24\insrsid10630811\charrsid14494463  shall include money, or the value of any consideration other than money.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (5) Failure to make any report required by this section shall constitute an offence punishable by a fin}{\fs24\insrsid9718519 e of}{\fs24\insrsid10630811\charrsid14494463 
 not more than $500. In addition, penalties and interest shall apply to su
ch delinquent taxes if not paid within twenty days after the possession, or the control, of the title of the property, or any part thereof, has passed to the purchaser, or within such further time as the Department may allow, whether or not an assessment 
of the tax has been made or notice of the delinquency given.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (6) The Purchaser shall have his remedy against the seller for the amount of taxes, penalties, or interest paid by him.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid9718519\charrsid14494463 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9718519 {\b\fs24\insrsid10630811\charrsid9718519 PART VIII - OFFENCES AND PENALTIES
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 51. }{\fs24\ul\insrsid10630811\charrsid9718519 Penalties}{\fs24\insrsid10630811\charrsid14494463  - The provisions of Part XIV of the Income Tax Act 1972 re}{\fs24\insrsid13894573 la}{
\fs24\insrsid10630811\charrsid14494463 t}{\fs24\insrsid13894573 ing }{\fs24\insrsid10630811\charrsid14494463 
to penalties shall apply in respect of the provisions of this Act as if the provisions of this Act were incorporated in and formed part of the Income Tax Act 1972.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid9718519 5}{\fs24\insrsid10630811\charrsid14494463 2. }{\fs24\ul\insrsid10630811\charrsid9718519 Application of Act to the Crown}{\fs24\insrsid10630811\charrsid14494463  - Turnover Tax shall not be payable }{\fs24\insrsid9718519 b}{
\fs24\insrsid10630811\charrsid14494463 y t}{\fs24\insrsid9718519 h}{\fs24\insrsid10630811\charrsid14494463 e }{\fs24\insrsid9718519 C}{\fs24\insrsid10630811\charrsid14494463 rown or any agency or division thereof except}{\fs24\insrsid9718519  }{
\fs24\insrsid10630811\charrsid14494463 as may be determined by the Minister by notice in the Gazette where the Minister considers that the non-application of the turnover tax in any particular case is unfair to any turn
over tax payer or use tax payer under the Use Tax Act 1980.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid9718519 5}{\fs24\insrsid10630811\charrsid14494463 3. }{\fs24\ul\insrsid10630811\charrsid9718519 Offences and penalties}{\fs24\insrsid10630811\charrsid14494463  - (1) It shall be unlawful for any per}{\fs24\insrsid9718519 son}{
\fs24\insrsid10630811\charrsid14494463  to refus}{\fs24\insrsid9718519 e to mak}{\fs24\insrsid10630811\charrsid14494463 e t}{\fs24\insrsid9718519 h}{\fs24\insrsid10630811\charrsid14494463 e return provided to be made in sections 37 and }{
\fs24\insrsid8536089 39 of }{\fs24\insrsid10630811\charrsid14494463 this Act or to make any false or fraudulent return o
r false statement in any return, with intent to defraud the Crown or to evade the payment of any tax imposed by this Act; or for any director, secretary or other officer of any corporation to make}{\fs24\insrsid9718519  }{
\fs24\insrsid10630811\charrsid14494463 or permit to be made for any false statement in any return 
required by this Act, with the intent to evade the payment of any tax hereunder. Any person contravening this subsection or contravening section 35 of this Act in relation to the tax imposed by this Act shall be liable on conviction to a fine not exceedin
g $1,080 or a t}{\fs24\insrsid8536089 erm}{\fs24\insrsid10630811\charrsid14494463  of imprisonment not exceeding one year, or both. Any corporation for which a false return, }{\fs24\insrsid9718519 or a return containing a false }{
\fs24\insrsid10630811\charrsid14494463 statement is made shall be liable on conviction to a fine not exceeding $1,000.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid9718519 (2) [Repealed]}{\fs24\insrsid10630811\charrsid14494463 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3822575 {\fs24\insrsid10630811\charrsid14494463 [}{\i\fs24\insrsid10630811\charrsid9718519 Amen}{\i\fs24\insrsid9718519\charrsid9718519 ded Act 1984-85/26; Act 1987/14}{
\fs24\insrsid9718519 ]}{\fs24\insrsid10630811\charrsid14494463 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid6840683 
\par }{\fs24\insrsid9718519 5}{\fs24\insrsid10630811\charrsid14494463 4. }{\fs24\ul\insrsid10630811\charrsid9718519 Regulations}{\fs24\insrsid10630811\charrsid14494463  - (1) The High Commissioner may from time to time,}{\fs24\insrsid14494463  }{
\fs24\insrsid16271285 by order}{\fs24\insrsid10630811\charrsid14494463  in Executive Council, make all such regulations}{\fs24\insrsid9718519  }{\fs24\insrsid10630811\charrsid14494463 
as, in his opinion, may be deemed necessary or expedient for giving effect to the provisions of this Act and for the due administration thereof.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) Without limiting the general power to make regulations conferred by sub-section (1) of this section it is hereby declared that regulations may be made under this section prescribing forms and rules}{
\fs24\insrsid9718519  }{\fs24\insrsid10630811\charrsid14494463 or procedure for the ascertainment, assessment and collection of taxes imposed under this Act.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid9718519\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 (3) All regulations made under this section shall be laid before the legislative Assembly within 28 days after the making thereof,}{\fs24\insrsid9718519  }{\fs24\insrsid10630811\charrsid14494463 
if the Legislative Assembly is then in session, and if not, shall be laid before the Legislative Assembly within 28 days after the commencement of the next ensuing session.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid9718519 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9718519 {\fs24\insrsid9718519 ---------------------------
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6840683 {\fs24\insrsid9718519 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9718519 {\b\fs24\insrsid9718519\charrsid9718519 1984-85, No. 26
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6840683 {\fs24\insrsid9718519\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6840683 {\fs24\ul\insrsid10630811\charrsid9718519 An Act to amend the}{\fs24\ul\insrsid9718519\charrsid9718519  Turnover Tax Act 1980}{\fs24\ul\insrsid10630811\charrsid9718519 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6840683 {\fs24\insrsid9718519 
\par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9718519 {\fs24\insrsid9718519\charrsid14494463 (8th March 1985}{\fs24\insrsid9718519 )
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9718519 {\fs24\insrsid9718519 
\par }{\b\fs24\insrsid9718519\charrsid9718519 BE IT ENACTED}{\b\fs24\insrsid9718519  }{\fs24\insrsid9718519 by the Parliament of the Cook Islands in Session assembled, and by the authority of the same, as follows:
\par }{\fs24\insrsid9718519\charrsid9718519 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid10630811\charrsid14494463 1.}{\fs24\insrsid14494463  }{\fs24\ul\insrsid10630811\charrsid9718519 Short Title}{\fs24\insrsid10630811\charrsid14494463  - (1) }{
\fs24\insrsid9718519 This Act may be cited as the Turnover Tax Amendment}{\fs24\insrsid10630811\charrsid14494463  Act 1984-85, }{\fs24\insrsid9718519 and shall be read together with and }{\fs24\insrsid10630811\charrsid14494463 deemed part of the Turnover}
{\fs24\insrsid9718519  Tax Act 1980 (hereinafter called}{\fs24\insrsid10630811\charrsid14494463  }{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 the principal Act}{\fs24\insrsid8004175 "}{\fs24\insrsid10630811\charrsid14494463 ).
\par }{\fs24\insrsid10027882 
\par }{\fs24\insrsid10630811\charrsid14494463 (2) This Act shall come into force}{\fs24\insrsid10027882  on the 1}{\fs24\super\insrsid10027882\charrsid10027882 st}{\fs24\insrsid10027882  day of }{\fs24\insrsid10630811\charrsid14494463 April 1985.
\par }{\fs24\insrsid10027882 
\par }{\fs24\insrsid16271285 \'85
\par 
\par }{\fs24\insrsid10027882 5. }{\fs24\ul\insrsid10630811\charrsid6840683 I}{\fs24\ul\insrsid10027882\charrsid6840683 ncrease in turnover tax}{\fs24\insrsid10027882  - (1) \'85}{\fs24\insrsid10630811 
\par }{\fs24\insrsid10027882 
\par (2) The collector }{\fs24\insrsid10630811\charrsid14494463 shall credit the additional revenue }{\fs24\insrsid16271285 collected by virtue of this section to the W}{\fs24\insrsid10630811\charrsid14494463 elfare fund.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid10027882\charrsid14494463 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12148918 {\insrsid10630811\charrsid12802420 [The amendments produced by subsection (1) have been superseded by those in Act 1987/14.}{\insrsid14494463\charrsid12802420  }{
\insrsid10630811\charrsid12802420 With that further amendment to sections 18-28, the effect of section 5(2) of this Amendment Act is now unclear.]
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12148918 {\insrsid10027882\charrsid12802420 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid10027882 ...
\par }{\fs24\insrsid10027882\charrsid14494463 
\par }{\fs24\insrsid10630811\charrsid14494463 15.}{\fs24\insrsid14494463  }{\fs24\ul\insrsid10630811\charrsid10027882 Repeal}{\fs24\insrsid10630811\charrsid14494463  - The Welfare Tax Act 1984 is hereby repealed.}{\fs24\insrsid10630811 
\par }{\fs24\insrsid10027882 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10027882 {\fs24\insrsid10027882\charrsid6840683 ---------------------------}{\fs24\insrsid10630811\charrsid6840683 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6840683 {\fs24\insrsid6840683\charrsid6840683 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10027882 {\fs24\insrsid10027882 This Act is administered by the Inland Revenue Department.}{\fs24\insrsid10027882\charrsid10027882 
\par }}