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8 Countries with Zero Income Tax

Wednesday, 22 August 2012, 01:07 IST
By SiliconIndia
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Qatar



Qatar, the gas rich nation is the richest country in the world with the highest Gross Domestic Product (GDP) above $ 88,000, according to Forbes. It primarily relies on its third largest gas reserves in the world to earn revenue. The country levies no taxes on personal incomes, capital gains, property dividends, royalties and profits. As a Qatar citizen, you will have to pay 5 percent of your total income and your employer will contribute 10 percent for your security benefits.



Oman



Oman earns majority of revenue from crude oil. The crude oil revenue increased by 35 percent  in April 2011 to $8.49 billion against the statistics of 2010. Being a resident of this nation you must pay 6.5 percent of your monthly salary for social security benefits. You will also be charged with 3 percent of stamp duty for owning a property in the nation. You will also witness several protests by the countrymen, demanding jobs and employment benefits.

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