In this article we are going to address the topic of Niue Consumption Tax in a complete and detailed manner, with the aim of providing the reader with a deep and updated vision on this topic. From its origins to its evolution today, through its main characteristics, applications and possible impacts in different areas. Niue Consumption Tax is a topic of great relevance today, which not only arouses interest in experts and specialists, but also in a general public eager for knowledge. Therefore, in the following lines we will delve into its different aspects to offer an enriching and contextualized perspective on Niue Consumption Tax.
The Niue Consumption Tax (NCT) is a value-added tax or consumption tax for goods and services consumed in Niue. It is modeled on the New Zealand Goods and Services Tax and charged at a rate of 12.5%.
The bill for the NCT was originally introduced to the Niue Assembly by Premier Toke Talagiin November 2007, but put on hold shortly afterwards after opposition from MPs. It was reintroduced a year later, and again delayed. It was finally passed on 5 February 2009, and came into force on 1 April 2009. The increased revenue from the NCT was partially offset by lowering income tax, import taxes, and tax on secondary income.