We are living in a world working on certain parameters. All these parameters are driven by humans which are in favor of us. But mostly we didn’t bother it and consider it as a bulging burden that aches our backbone.
Yeah, we are talking about taxes. People mostly ignore this term and whenever someone talks about taxes they deny to talk about it. This is why in many under developing countries the rich ones can put sand in their eyes by not paying taxes and the poor one bears the burden.
But today, we are about to vanish the local myth that everyone is paying taxes to live in this world. As today we are about to explore some countries where people live a tax-free life.
Let’s have a look at these countries;
1) The United Arab Emirates
UAE is one of the top countries that are blessed with extreme natural resources including oil, gas, and free trading portals. These things are broadly opened for all to trade without any income tax. This is why UAE has become the center of attention for the whole world.
The reason behind increased Asian labor in these countries is also offering higher pays with zero taxes over salaries. So, UAE is one of those countries offering a tax-free lifestyle.
Bahrain is also one of the Arab countries having bulk sources of Oil. They are selling it worldwide and earning through this resource a lot. The people working in Bahrain and their hiring company don’t go for any income tax but fewer security. It means that every employee or employer would be paying 9 to 6 percent of their salaries as a social security tax.
Other than social security there is nothing extra to pay for. Just work and earn a luxurious lifestyle.
The third one is Brunei, one of the rich Muslim countries. Brunei also carries out some softheartedness on people by offering a no-income-tax policy. But the end of discourse is not here. The people are supposed to pay for vehicle tax or property tax. You can say that if you are not using your money for buying these two items, you can enjoy other perks without paying a single penny.
The real piece of hot cake among paying taxes goes here in Monaco. This is the country offering extreme comfort for its citizens. Monaco is a country where you could be counted as a resident if you live there for 6 months.
Now people who have completed this tenure are avoided paying taxes. While the new visitors may be asked to pay taxes on what they earn.
Many countries make their laws making individual earnings tax-free and encourage to struggle for their country’s prosperity. But somehow, they apply some taxes on either property or other assets. But in Oman, the conditions are quite opposite.
In Oman, people are not supposed to pay a single penny in the name of tax. It applies to all the things including property and all assets as well as buying items.
QATAR is a country where everyone wishes to go and live there. This country is fully developed in the sense of resources as well as economy. The infrastructure of QATAR makes it more prominent to visit it. People who are living here are not paying taxes. However, those who want to live in QATAR from certain countries may need to pay taxes according to their local laws.
7) Kuwait and the Bahamas
Lastly, Kuwait and the Bahamas are the countries that are also not collecting any tax from personal income. As Kuwait is a country having 90% of its income from petroleum products, therefore, they don’t levy any taxes on people for their residence, properties, or income.