Nagpur: The Income Tax is a major source of revenue for majority of countries in the world. Millions of people in many countries including India have to pay hefty money in the form of Income Tax. But do you know there are some countries in the world where no Income Tax is recovered.
Having all that in mind, here is the list of contries:
1.The Bahamas
Well-known island in the Caribbean is on our list of zero income tax countries. However, they still have VAT and social security.
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Friday 07March 2025
2.United Arab Emirates (UAE)
Probably the most well-known place in the Middle East for zero taxes. UAE recently introduced a 5% VAT. UAE is a place where it’s easy to get and maintain residency.
3.Bahrain
Similarly to previous countries on the list, Bahrain recently introduced 5% VAT. There are social securities contributions as well, 7% per locals, and 1% for foreigners which covers unemployment.
4.Brunei
Brunei has no income tax. They have a 5% tax in social contribution (contribution to the state fund). This is the only country in South East Asia where there’s no income tax!
5.Cayman Island
Pure zero income tax country. They don’t have social security tax, no payroll tax.
6.Kuwait
This country has zero income tax. There are some social contributions and VAT of 5%.
7.Oman
For individuals, the Sultanate of Oman does not have any taxes on personal income, including income from capital gains, wealth, death, or property. Foreigners might be subject to withholding taxes at a rate of 10%.
8.Qatar
Qatar is another Middle Eastern country that has zero taxes on personal income. There are social security contributions of 10% that are paid by the employer. They also just implemented a VAT of 5%.
9.Maldives
Millions of people including Indians visit this country. It is a major tourist destination. Here also no income tax is paid.
10.Monaco
Monaco is the only zero personal tax country left in Europe! Andorra also used to be zero tax, but this is unfortunately not the case anymore. If you want to live in Europe and pay no income taxes, Monaco is the only straight forward option!
11.Bermuda
A small country in the Atlantic has no income tax. However, they do have payroll tax.
12.Saudi Arabia
Saudi Arabia is also traditionally known as zero tax country, however, their VAT rate just increased from 5% to 15%. They also have a withholding tax.
