Tuesday, 16 October 2018

5 countries of the world where people don't have to pay income tax

Tax is compulsory contribution to the state revenue. Government of country imposes tax on all types of goods and services, which after used in development of the country. The amount you pay in taxes use in many places. In addition to paying the salaries of government employees, your tax also help to support common resources, like police, firefighters and security. Tax money used to maintain roads for your safe travel. If you think every country in the world collect tax from their residents, then it's not true. Some countries don't force people to pay taxes, while we are paying it on almost every thing, like service tax, sales tax, wealth tax and many other different taxes government take from us. But, Today we are going to tell you about five countries of the world where people do not have to pay income tax.

"Abu Dhabi Police - Lykan Hypersport (Off" (CC BY 2.0) by Felix Berndt Photography
1. United Arab Emirates (UAE)
United Arab Emirates is one of the richest countries in the world, but in this country no any person has to pay income tax to the government. Here tax is only imposed on foreign oil companies and foreign banks. The Dubai police use Lamborghini, Ferrari and Bentley. Because, this high speed cars allows them to catch speeders who can outrun other cars. Did you know that, there is no address system, no zip codes, no area codes and no postal system. For a package to be deliver properly, the sender would have to give proper directions about the destination of said package.

Image credit - Pixabay
2. Saudi Arabia
There is no tax on salaries of any person in Saudi Arabia, but here is a little different. In this country, 20 per cent tax is required from those who do their own business, besides there is no tax on any person here. Almost half GDP of the country comes from oil and 22% of oil reserves in the world are located in Saudi Arabia.

"Kuwait cosmopolis - don’t miss the detai" (CC BY 2.0) by Snap®
3. Kuwait
Kuwait is considered to be one of the most beautiful and richest countries in the world. Many people come here to work, because, Kuwaiti Dinar (currency of Kuwait), is the highest-valued currency in the world and it available in both coins and notes with different denominations. The people of this country do not have to pay an income tax. But, In this country, people have to deposit the amount directed towards social security.

Image credit - Pixabay
4. Qatar
The people of this country are also very wealthy, with the inherent reserves of oil in Qatar. Despite this there is no income tax here. Did you know that, the Gulf country Qatar is ranks sixth position in the world by nominal GDP per capita which is 60,804 US$.

Image credit - Pxhere
5. Oman
Oman is a country located in the south east of the Arabian Peninsula, where no income tax is taken from the citizens, Oman is a big exporter of gas and oil, while copper is also exported in limited quantity. The citizens of this country give their contribution deposit in social security. Oman produces 900,000 barrels of oil per day and it is also the greatest ship builders in the world.

Also check, Top things to do when you are traveling in Dubai City | Emirates

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