As per World of Statistics residents of these countries enjoy the luxury of not paying income tax.
The Cayman Islands stand out as a prominent tax haven, boasting no corporate tax. MNCs find refuge here to shield their incomes from taxation
Residents of the Bahamas experience the bliss of tax exemption on various fronts including income, inheritance, gifts, and capital gains.
Bahrain currently imposes no general taxation on personal income or corporations.
In Bermuda, individuals are spared from income tax. However, employers are subject to a Payroll Tax as per the Payroll Tax Act of 1995
While corporate tax exists in Brunei, individuals enjoy the perk of no income tax. Additionally, there's no sales tax or value-added tax.
Kuwait stands out for its absence of withholding taxes. However, local franchisees or licensees are subject to a 5% deduction from license payment
There's no personal income tax. Non-Saudi and non-GCC individuals face a flat income tax rate of 20% on tax-adjusted profit.
The United Arab Emirates is renowned for its income tax-free status for individuals. Nevertheless, a 5% value-added tax is levied on goods purchased