There are a few countries that, as per the 'World Population Review' report that does not levy income tax at all. Here is a look at them.
Tax is a key source of revenue for every country across the globe. One of the key elements within the taxation pool is the income tax that individuals need to pay on the income they generate. But there are a few according to the 'World Population Review' report that does not levy any income tax on citizens. Here is a look at them. (Image: Shutterstock)
Recommended ArticlesView All
Biggest casualty of ending LTCG regime is not debt funds but the debt market
Mar 25, 2023 IST6 Min(s) Read
US Fed rate hike — willing to hit but afraid to wound
Mar 25, 2023 IST4 Min(s) Read
Withering Weather: Experts see erratic rains to spell higher food prices and tougher inflation ahead
Mar 24, 2023 IST4 Min(s) Read
Decoding Finance Bill proposals for debt funds: What remains and what changes
Mar 24, 2023 IST3 Min(s) Read
: The tourist haven located in the western hemisphere does not impose income tax on its residents, regardless of where they earn their income. (Image: Reuters)
Bahrain: The oil-rich Arab nation located on the Persian Gulf imposes no income tax on its citizens. (Image: Reuters)
Brunei: The oil-rich Islamic kingdom located in South-East Asia may not be scoring high when it comes to human rights and political freedom. But it imposes no income tax on its people. (Image: Reuters)
Cayman Islands: The British overseas territory, located in the Caribbean, is a tax-free autonomous region. (Image: Reuters)
Kuwait: The oil-rich Arab country located on the Persian Gulf is another country with no income tax. (Image Source: Wikimedia Commons)
Maldives: The island nation located not far from India is a tourist haven with a questionable track record when it comes to human rights.
Monaco: The tiny European city-state imposes zero tax on citizens income.
Nauru: The tiny island country in Micronesia is providing tax-free options as a way to overcome the economic downturn. (Image: AP )
Oman: Another middle-eastern kingdom to make it to the list is Oman that boasts a strong oil and gas sector. (Image: AP )
Qatar: Another oil-rich Arab kingdom on the list is the tiny nation located on the Persian Gulf.
Saint Kitts and Nevis: The tropical island nation situated between the Atlantic Ocean and the Caribbean Sea is another nation with no income tax.
Somalia: Though tax-free, the war-torn nation may not be an ideal choice for anyone to live. (Image: Reuters)
The United Arab Emirates: Large oil reserves and booming tourism industry has allowed the emirates to avoid imposing tax burden on their population. (Image: Reuters)
Vanuatu: The South Pacific island nation imposes zero income tax. (Image: Wikimedia Commons)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!