Consumption Tax shall be levied on
- A taxable supply by a taxable person; and
- a taxable import
The amount of Consumption Tax Payable in respect of a taxable supply or taxable import shall be computed by applying the rate specified in subsection.
TCT is a tax on goods and services supplied in Tuvalu
- Tax on spending – paid by the final consumer
- Broad Based Tax – covers a wide range of Taxpayers
Who must register for TCT?
- Only those businesses registered under this tax types are authorized to charge and collect TCT
- Businesses with annual turnover (sales) exceeding $100,000
Tax Rate
- 7% on all goods and services except exempt supplies on some goods and services
Source: gov.tv
