 "The country in the world where not taken TAX, people not have to pay on income …")
In most countries in most countries in most countries) is the main source of income for the government. Speaking of India, income tax is set up in accordance with the income of the people, the less earnings have to pay less income tax and more earners have to pay more taxes. But do you know that there are many countries in the world where more income tax collected than India. At the same time, there are many countries where income tax is not collected, the people have no income tax. In fact, a few days later, the country’s general budget is going to appear. The announcement on the budget in which the eyes of the country are at the highest income tax benefits. Today, however, we tell you about the lands where there is also a tax for a tax. The question now is how the economy of these countries runs without tax. Let’s know about it & MLDR;
United Arab Emirates (UAE)
UAE does not take any personal income tax. The government depends on indirect taxes like VAT and oil and tourism to fund their economy.
Bahrain
Bahrain is another tax-free country. The government collects revenue through VAT and other expenses, which supports small businesses and startups.
Kuwait
Kuwait’s economy flops on oil exports, with which personal income tax collections become unnecessary. Oil revenue is the spinal cord of its economic prosperity.
Saudi Arabia
Citizens of Saudi Arabia do not pay taxes. The country’s economy is supported by its strong oil area and VAT collection.
Bahamas
Knowing for his tourist industry, Bahamas does not pay income tax on its residents. Other Gulf countries like Oman and Qatar compliance similar models, depending on their oil and gas resources to maintain their economy.
Now let’s talk about the most income tax rates: Income tax rates in some lands, on the other hand, funds comprehensive public welfare programs, education and healthcare systems. These include
Finland
Finland is one of the highest income tax rates on 57.3%. In turn, citizens enjoy excellent healthcare, education, unemployment benefits and pensions. This community welfare system contributes to Finland to the world’s happiest country.
Japan
Japan’s income tax rate goes up to 55.95%. Progressive tax system ensures that more income people pay more. This tax collection helps to fund public services and infrastructure.
Denmark
Denmark recovery 55.9% in income tax. The government uses this revenue to provide free health care, education and other social security benefits.
Austria
Austria’s tax rate is 55%. Funds are used to strengthen healthcare, education and infrastructure, which ensures high quality of life for its citizens.
Sweden and Belgium
Sweden (52.3%) and Belgium (50%) also collect high income tax to support extensive welfare programs.
Let you know that the government here supports comprehensive social welfare programs with the help of higher taxes. Many countries that charge high taxes do their costs of their citizens. This includes their treatment, housing, and food. Finland people are involved in the most happy countries in the world despite more taxes. According to a report of the United Nations released in March last year, Finland was first in the world’s happiest countries. According to the report, the happiness of the people of Finland is due to social security, less corruption, good education, good education and health facilities and governmental institutions.