Tax Free Countries: Income tax is an important source of income for the government all over the world but taxpayers always want relief in taxes. Every income tax payer tries to save as much tax as possible in any way. But, there are some countries in the world where no tax is levied. The special thing is that a very poor country is also included in these which does not collect tax from its citizens.
There are different reasons for not collecting tax from citizens in these countries. Most of these are Gulf countries. Apart from this, European and African countries are also included in this list. The special thing is that income tax is collected in big and powerful countries like America, France, Britain, Germany and China, then why is this exemption given in these countries.
UAE is the richest country among the Gulf countries. The economy of this country is very strong due to oil and tourism, therefore, no tax is levied on the common citizens here.
Kuwait-Bahrain Kuwait and Bahrain are also Gulf countries and are big oil exporting countries of the world. Therefore, here also the governments do not collect income tax from their citizens.
Somalia- The East African country Somalia is a poor country but even here taxes are not collected from the public.
Brunei-Oman Brunei, which has huge oil reserves, also does not charge income tax from its citizens. This country is situated in South East Asia. Similarly, people do not have to pay income tax in another Gulf country Oman. Actually, Oman also has huge reserves of oil and gas.
Monaco-Nauru – In this European country also the government does not collect income tax from the people. In the world’s smallest island nation, Nauru, income tax is also not collected from the people.
