Mar 28, 2023
While the tax season in India kicks in, here are 8 countries that impose no income tax.
UAE has been a favourite settling spot among immigrants and there is a reason for that. The middle eastern country imposes no income tax for individuals and corporations.
An attractive destination for entrepreneurs and high-net-worth individuals, the Bahamas also levies zero personal income tax.
There are no income, corporate, estate or withholding taxesin Dominica. The country also has no taxation on gifts, inheritance, and income earned abroad.
There is a territorial tax system in Panama, which means that foreign income is tax-free.
Apart from being income tax-free, Panama also has no payroll, capital gains and withholding tax. There is no corporate tax as well.
Corporate, income or capital gain taxes are not levied in the British Virgin Islands, making the country a tax haven for citizens.
Qatar does not impose income tax on an individual’s allowances, salaries and wages, and instead has a territorial tax system like Panama.
The sovereign city-state in the French Riviera levies zero income tax on residents and businesses.
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