The budget for this financial year 2024-25 was presented by Finance Minister Nirmala Sitharaman. Which includes economic accounting to run the country. There have been many changes regarding tax in the budget. But do you know that there are many countries in the world in which the government does not collect any tax from the public. Here are 10 countries, where the government does not collect even a single rupee tax from the public.
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10 Countries with No Tax Collection
1- Bahrain
The government of Bahrain does not collect income tax from the people. The country’s economy runs on indirect taxes. Due to this, small businesses and startups are growing a lot in the country. Due to which the country’s economy is also growing rapidly.
2- Saudi Arabia
In this country too, income tax and direct tax are not collected from the public. The economy here depends on indirect tax only.
3- Monaco
This is also a small country, whose economy depends on tourism. The government here also does not collect any tax from the public.
4- Kuwait
The government does not collect any tax from the public in this country too. The economy here depends on oil.
5- United Arab Emirates
The government of the United Arab Emirates also does not collect tax from the citizens of the country. The government is running its economy on the basis of other indirect taxes like VAT. Apart from this, oil and tourism have also given wings to the country’s economy.
Also Read: How to Calculate Taxes on SIPs after Budget 2024?
6- Qatar
In this country too, the economy is running on the income from oil. Due to which the government does not collect any tax from the public. It is a small country, but is very rich. Where the economic condition of the people living there is also very good.
7- Oman
Like Kuwait and Bahrain, in this country also no tax is collected from the public. In this country, the government runs its economy by selling gas and oil.
8- The Bahamas
The government here also does not collect any tax from the public. People from all over the world come here to visit. Due to which their economy runs well.
9- Cayman Islands
This country is located in North America. Where no tax is taken from the public. This country earns a lot of income from tourism. People from all over the world come here to visit.
10- Brunei
Brunei is known for its extensive oil refineries and significant oil reserves. As a result of this abundant natural resource and large storage of oil in this country, the government here does not collect tax from the public.