Top 4 Countries Without Income Tax

Income tax is the tax that is imposed on an individual's income or business. Each country will have its own rate which is compulsory to be paid and in the US the rate can be anywhere between 10 to 37 percent depending on how much you actually make

The table below shows you how much tax you have to pay if you live in the US.

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With that being said, there are also a few countries out there that have to pay zero tax to their governments and some of you might be wondering which countries make it to the list.

1. United Arab Emirates (UAE)

The United Arab Emirates is not the only country in the middle east that is on the list, in fact, there are also other countries nearby that are similar to them. This country is considered to have a competitive economy as well as cultures that are very diversified compared to the rest of its region.

This can definitely be proven as Abu Dhabi and Dubai have become one of the main places of attraction to visit for many tourists. On top of that, UAE also has a very unique education system with a very high literacy rate for English.

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2. The Bahamas

For you to enjoy the exemption of income tax in the Bahamas, it will really depend on how long you have been living there. This has made the Bahamas become one of the easiest countries for you to evade those annoying income taxes.

However, certain requirements must be met for non-citizens to enjoy the experience of no income tax which they must stay in the Bahamas for at least 90 days. Not too bad I must say.

If you are those who have a lot of money and cannot be bothered to pay taxes then feel free to come and stay in the Bahamas.

3. Bermuda

Some people might think that this is the place where many people were lost and have never been found. Well, it is definitely not the place you are thinking of.

But do you also know that Bermuda is well-known as a country free from income tax and it seems that it is far more interesting than the Bahamas? The only downside is that the cost of living there is much higher.

Bermuda which is located on the Caribbean island has a complex road system as well as good transportation for the people around. Not only that, but it should also be on your top list to visit since it has mesmerizing scenery for you to enjoy.

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4. Monaco

It is definitely a place to visit in Europe and it is located in France but the unique thing is that it has its own administration. You will also be exempted from income tax when you live here but be prepared to take a lot of money out of your pocket.

The proof is that for you to have a legal permit to live there, you will need to deposit at least half a million dollars. The good side is that you will be sure to experience a country that has the lowest crime rate in the world especially considering that it's only a small country.

So for all of you out there, what's life like in your own country maybe you have decided to pack your bags and head straight to the country of your dreams. One thing for sure is that you can never evade tax but only reduce it.

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