Income tax, toll tax, road tax, fuel tax and many more taxes… the people are burdened with taxes. The situation is that a large part of people’s income goes into paying taxes. But do you know that there are countries in the world where taxes do not have to be paid. The citizens there are freed from this burden. Let us know which countries are these
According to the World Bank report, till the year 2021, the population of this country was only 63,000. The name of this country is Bermuda. No one has to pay income tax in this small country located in the North Atlantic Ocean. Here employers pay a payroll tax of 14 percent for their employees.
No tax to be paid on salary in Saudi Arabia
Now the name of the country we are going to tell you about is Saudi Arabia. Here employed people do not have to pay any tax on salary. But if you do your own business then you have to pay 20 percent tax. This rule is also for migrants. At the same time, no personal income tax of any kind has to be paid in Brunei Darussalam.
No income tax in Oman
Oman is an oil producing country. No one has to pay taxes in this country with Muslim population. There is no tax on the income of any person in Oman. This country is also included in the category of tax haven countries.
Citizens of Kuwait are exempted from income tax
Kuwait, situated in the Middle East of Oman, is called a tax free country. According to the tax law here, every citizen is exempted from income tax. However, contributing to social security is mandatory not only for government and private employees, but also for every citizen.
No personal tax and no liability
Now we are going to tell you about one such country. Where no one has to pay personal tax nor have to give funds for social security. The Cayman Islands is a British territory located in the Caribbean region of the North American continent. According to the National Pension Law here, every employer has to run a pension scheme for his employees, including those expatriates who have been working here continuously for nine months.
Here companies bear the burden of employees
Bahrain is a country where employed people do not have to pay income tax. However, social insurance and employment tax are definitely levied. Bahraini citizens have to pay social insurance tax of seven percent of their total income. In Bahrain, employers have to deposit social security tax at the rate of 12 percent for their employees.