Interim Budget 2024: Finance Minister Nirmala Sitharaman will present Interim Budget 2024 shortly. Like every budget, this time too there is a lot of discussion about the salaried clause.
Be it an employee or a businessman, every person has to pay income tax. Income tax received from the public is the main source of income for the government of any country. But there are some countries where no tax is collected by the government. Here the government does not have to pay any kind of income tax and the entire income of the people comes into their hands. Let us know about those countries-
United Arab Emirates is also a tax free country. Crude oil is traded here and the entire economy depends on it. Here also people do not have to pay tax. The government of the Gulf country Bahrain does not collect any kind of tax from its citizens.
When it comes to tax free country, the first name that comes to mind is The Bahamas. This country, which is called heaven for tourists, is in the Western Hemisphere. The people of this country do not have to pay any tax on their income to the government.
Brunei also has oil reserves, people living here do not have to pay any kind of tax. Apart from this, people living in the Cayman Islands, which fall in the Caribbean region of the North American continent, also do not have to pay income tax on their income.
Like UAE, Kuwait also has natural reserves of oil and gas. This country also earns well from both the things and the people here get its benefit. This is the reason why the people of this country do not have to pay income tax.
