Tax Free Countries: Taxes are taken from the public for the development and running of the country. Tax is the main part of the income of the government of any country. People have to pay tax in many countries including India, America and Britain. However, on the contrary, there are many countries which do not have to pay a single rupee tax.
Tax Free Countries: Tax is the main source of income in most countries of the world. Governments collect taxes from the public in two ways. One is Direct Tax and the other is Indirect Tax. The works of development are done by the taxes collected by the governments from the public. But you will be surprised to know that many countries are like this too. Where people do not have to pay even a single paisa tax (Tax Free Countries) . Despite this, people in these countries get good facilities from the government. Not only this, these countries are also progressing fast.
People have to pay tax in many countries including India, America and Britain. But there are some such countries as well. Those who do not have to pay tax of even a single rupee. People’s entire earning comes in their account. Let us know which are the countries which are not taking tax from the public.
The bahamas
The Bahamas country, which is called Paradise for tourists, falls in the Western Hemisphere. The special thing about this country is that the citizens living here do not have to pay income tax. However, the government levies charges like VAT and stamp duty.
UAE
The United Arab Emirates is one of the richest countries in the Gulf region. The UAE’s economy is very strong due to oil and tourism. That’s why people in UAE have been given relief from income tax.
Bahrain
Even in the Gulf country Bahrain, citizens do not need to pay any kind of tax on their earnings. In Bahrain, tax is not collected from the public by the government.
Panama
In the Central American country of Panama, citizens do not have to pay any tax. There is a huge chain of beaches and casinos here. Where there is no tax to be paid even on capital gains.
Oman
Apart from Bahrain and Kuwait, the Gulf country Oman is also included in this list. Citizens of Oman. They don’t have to pay income tax. The reason for this is believed to be Oman’s strong oil and gas sector.
Queue
Same is the case with Qatar like Oman, Bahrain and Kuwait. Qatar is also very strong in its oil sector. This country is undoubtedly small but the people living here are very rich. Here also income tax is not charged.
Now giving the list of some such countries. Where about 35 percent tax has to be paid. Whereas in India more than 42 percent tax has to be paid.
Mexico and Malta
Mexico is the only country in the world where citizens have to pay maximum 35% tax. Malta also has a maximum tax rate of 35 per cent.
Jordan, Trinidad and Tobago
The tax slab in Jordan is 30 per cent. Citizens are taxed 30 percent in Trinidad and Tobago. And Malaysia has a 28 percent tax rate. While Brazil has 27.5 percent tax.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
