Top 8 Tax Heavens of the World
Are you know that what is Tax Haven? Tax Havens are the tax free Countries of the world. Here I will tell you about the top 8 Tax Havens of the world.
1. State of Kuwait
Kuwait is a sovereign Arab State which is situated in the North-East of the Arabian Peninsula in Western Asia. Kuwait’s Oil Industry accounts for 80% of government revenue. This country is Tax Free.
This country is situated in the South West Asia. This is situated on the South East coast of the Arabian Peninsula. Oman is exempts tax as an incentive to encourage their expansion and development.
Qatar is a sovereign Arab State. This is located in Western Asia. Qatar has lowest tax rates in the world. There is no Income Tax.
UAE means United Arab Emirates is a federation of seven emirates. There are many emirs to govern the seven emirates with a single national President. There are no Income Tax on wages or salaries.
Bahamas is located in the Atlantic Ocean. The Bahamas has more than 3000 islands,cays and islets. There is no income tax however the government derives its revenue from import duty, licence, property etc. There is no Income Tax, Corporate Tax, Capital Gains Tax,Value Added Tax or Wealth Tax.
6. Cayman Islands
The cayman Islands is a tax free destination. The primary source of the government is Indirect tax. This Islands is a British Overseas Territory located in the Western Caribean Sea.
7. Kingdom of Bahrain
This is a small island country and it is situated near the Western Shores of the Persian Gulf. This country is tax free economy with no withholding tax, corporate tax, income tax and VAT.
Bermuda’s Tax system depends upon import duties,Payroll Taxes and consumption Tax.