Norfolk Island currently does not have a number of taxes such as those found in Australia and New Zealand, including payroll tax, company tax, income tax, land rates, fringe benefit tax, capital gains tax or land and property tax.
There is no personal income tax in Norfolk.
There is no corporate income tax in Norfolk.
Capital gains are not taxed in Norfolk.
There is no withholding tax in Norfolk.
Registered persons must lodge monthly GST returns with the Chief Revenue Officer at the GST Office and pay a 12% GST on the gross revenue amount collected for that month’s transactions, less any input tax credits, when lodging the GST return.
There is no stamp duty in Norfolk.
Norfolk companies pay annual fee for lodging annual return.
Customs Import Duty is applicable to an import that is not for resale. Business Transactions Levy is payable at 4% upon business change of ownership arrangements and/or interests. If the sale of business includes real estate, then the Levy may be paid through the Land Registry Office.
Norfolk has no separate double tax treaties because it is represented as part of Australia in the tax treaties concluded by Australia.
Australia has 44 Double Tax Treaties (DTC) with the following jurisdictions:
44 DTCs: Aruba, Austria, Belgium, Canada, Chile, China, Czech Republic, Denmark, Fiji, Finland, France, Germany, Hungary, India, Indonesia, Ireland, Italy, Japan, Kiribati, South Korea, Malaysia, Malta, Mexico, Netherlands, New Zealand, Norway, Papua New Guinea, Philippines, Poland, Romania, Russian Federation, Singapore, Slovakia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Thailand, Timor-Leste, Turkey, United Kingdom, United States, Vietnam, 38 TIEAs: Andorra, Anguilla, Antigua and Barbuda, Aruba, Bahamas, Bahrain, Belize, Bermuda, Brunei, Cayman Islands, Cook Islands, Costa Rica, Curaçao, Dominica, Gibraltar, Grenada, Guatemala, Guernsey, Isle of Man, Jersey, Liberia, Liechtenstein, Macau, Marshall Islands, Mauritius, Monaco, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Sint Maarten, Turks and Caicos Islands, Uruguay, Vanuatu, British Virgin Islands.
There is no exchange control in Norfolk.