[fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” status=”published” publish_date=”” class=”” id=”” border_size=”0″ border_color=”” border_style=”solid” margin_top=”-4%” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” gradient_start_color=”” gradient_end_color=”” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center” linear_angle=”180″ background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_blend_mode=”none” video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″][fusion_builder_row][fusion_builder_column type=”1_6″ layout=”1_6″ spacing=”0%” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”large-visibility” class=”” id=”social_Sticky_Side” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” box_shadow=”no” box_shadow_blur=”0″ box_shadow_spread=”0″ box_shadow_color=”” box_shadow_style=”” background_type=”single” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center” linear_angle=”180″ background_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” background_blend_mode=”none” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” filter_type=”regular” filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″ first=”true” last=”false” margin_bottom=”86px” padding_right=”114px”][fusion_sharing tagline=”” tagline_color=”” backgroundcolor=”” title=”TOP 10 TAX FREE COUNTRIES IN THE WORLD | 10 COUNTRIES WITH NO TAX” link=”https://www.mydreamconsultant.com/top-10-tax-free-countries-in-the-world-tax-heaven-countries/” description=”VE9QIDEwIFRBWCBGUkVFIENPVU5UUklFUyBJTiBUSEUgV09STEQgfCBUQVggSEVBVkVOIENPVU5UUklFUyAhISEhIQ==” icons_boxed=”yes” icons_boxed_radius=”” color_type=”brand” icon_colors=”” box_colors=”” tooltip_placement=”” pinterest_image=”” pinterest_image_id=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” /][/fusion_builder_column][fusion_builder_column type=”1_2″ layout=”2_3″ spacing=”3%” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” box_shadow=”no” box_shadow_blur=”0″ box_shadow_spread=”0″ box_shadow_color=”” box_shadow_style=”” background_type=”single” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center” linear_angle=”180″ background_color=”rgba(239,239,239,0)” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” background_blend_mode=”none” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” filter_type=”regular” filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″ first=”false” last=”false”][fusion_imageframe image_id=”1807|large” max_width=”” style_type=”glow” blur=”14″ stylecolor=”#0a0026″ hover_type=”none” bordersize=”0″ bordercolor=”” borderradius=”” align=”none” lightbox=”no” gallery_id=”” lightbox_image=”” lightbox_image_id=”” alt=”” link=”” linktarget=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]https://www.mydreamconsultant.com/wp-content/uploads/2020/06/Income-Tax-1-1024×667.jpeg[/fusion_imageframe][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]
TOP 10 TAX FREE COUNTRIES IN THE WORLD | TAX HEAVEN COUNTRIES !!!!
What Is Tax Heaven?
A tax heaven generally called as offshore country where the government of that country offers NIL or much reduced tax rates to its businessman and foreign investors to provide very friendly economic environment.
Tax Heavens do not require businesses to operate out of their country or the individuals to reside in their country to receive tax benefits.
Criteria of Tax Heaven
The criteria to decide whether the country is tax Heaven or not we have recognize following points that these are satisfied or not. If these common factors being satisfied then we can say that the country is tax Heaven;
1. NIL or much reduced Tax rates
2. Less compliance in terms of business
3. Rapid working in terms of approval
4. Lack of transparency
5. Less exchange of legal information of business
6. Very less involvement of government
7. Generally a small country plus tourist destination being a tax Heaven.
Benefits to tax Heaven
For Tax Heaven Country: the country gets higher amount of FDI and got so much capital for their banks and financial institutions which helps the country for their faster economic growth.
To the Businessman or individual: the individual gets very less tax rate of NIL tax rate or got so much features as discussed above. Which helps him in very less burden in its mind to pay tax and in terms of compliance It also helps to save more money for its business which he can invest for business expansion.
Top Ten Tax Heaven countries in the world
1. Bermuda
Barmuda is one of the countries which can be called as tax Heaven because Barmuda there is no Income Tax or Capital gain tax. The main sources of income of Barmuda government is from the tourism because it is a British Iceland Territory in the North Atlantic Ocean.
————————————————————————————————–
2. Bahamas
The Bahamas, known officially as the Commonwealth of The Bahamas, is a country within the Lucayan Archipelago of the West Indies in the Caribbean. As the Bahamas does not levy direct taxes, there are no double tax treaties between the Bahamas and other countries/jurisdictions. However, The Bahamas has entered into Tax Information Exchange Agreements (TIEA) with several countries/jurisdictions, which provide assistance through exchange of information that is foreseeably relevant to the administration and enforcement of the domestic laws of the relevant parties, concerning taxes covered under TIEAs. There rate of Indirect tax called as VAT (Value Added Tax) in Bahamas is 12%.
————————————————————————————————–
3. British Virgin Iceland’s
The British Virgin Islands, part of a volcanic archipelago in the Caribbean, is a British overseas territory. Comprising 4 main islands and many smaller ones, it’s known for its reef-lined beaches and as a yachting destination. The largest island, Tortola, is home to the capital, Road Town, and rain forest-filled Sage Mountain National Park. On Virgin Gorda island is the Baths, a labyrinth of beach side boulders.
Since 1 January 2005, the British Virgin Islands have adopted a zero-rated
Income tax regime for all corporate entities
However, individuals are subject to a payroll deduction made of up to 8% for employees with 12% paid by employers, in relation to all salaries over US$10,000 per annum.
Along with this there is no sales tax, capital gain tax, No tax on Dividend or interest or rent or royalties.
————————————————————————————————–
4. Taiwan
Taiwan, officially the Republic of China, is a country in East Asia. Neighboring countries include the People’s Republic of China to the northwest, Japan to the northeast, and the Philippines to the south.
A non-resident alien residing in Taiwan for less than 90 days in a calendar year is subject to 18% WHT on salary remuneration received from a Taiwan-registered entity. Remuneration received from an entity registered outside of Taiwan is tax exempted.
A non-resident alien residing in Taiwan for more than 90 days but less than 183 days in a calendar year is subject to tax at a flat rate of 18% on Taiwan taxable salary income, regardless of where the remuneration is paid.
The corporate tax rate in Taiwan for above NT$ 120,000 is 17%. Below income NT$ 120,000 is Zero tax rate.
————————————————————————————————–
5. Jersey
Jersey is the largest of the Channel Islands, between England and France. A self-governing dependency of the United Kingdom, with a mix of British and French cultures, it’s known for its beaches, cliff side walking trails, inland valleys and historic castles.
The personal Tax rate is maximum 20% in Jersey. Ant the standard rate of corporate income tax in Jersey is 0%.
The exceptions to this standard rate are:
• financial service companies (defined in the Income Tax Law) which are taxed at 10%
• utility companies which are taxed at 20%
• income specifically derived from Jersey property rentals or Jersey property development taxed at 20%
• large corporate retailers with cumulative Jersey retail turnover of £2 million or more, taxed at a variable rate up to 20%
The indirect tax law in Jersey is known as Goods and Service Tax Act which is flat 5% applicable in the country.
————————————————————————————————–
Get Your Firm Registered @60% Discounting Price
—-! Click Here !—-
6. Cayman Iceland’s
The Cayman Islands, a British Overseas Territory, encompasses 3 islands in the western Caribbean Sea. Grand Cayman, the largest island, is known for its beach resorts and varied scuba diving and snorkeling sites. Cayman Brac is a popular launch point for deep-sea fishing excursions.
There is no income tax or capital gains tax or corporation tax in Cayman Islands imposed on Cayman individuals and Cayman Islands companies. An import duty of 5% to 20% is levied against goods imported into the islands. Some items are tax exempt like baby formula, books and cameras.
Cayman Islands government receives the majority of its income from indirect taxation.
————————————————————————————————–
7. Netherlands
The Netherlands, a country in Northwestern Europe, is known for a flat landscape of canals, tulip fields, windmills and cycling routes. Amsterdam, the capital, is home to the Rijks museum, Van Gogh Museum.
The corporate tax rate in Netherlands is 25%. And the maximum Personal tax rate is up-to maximum 51.75%. But the most benefit is that there is tax treats with all the countries, after making taxable with Netherlands near all the big countries does not levied taxes. And the regulatory requirement is also so much less in Netherlands.
The Indirect tax laws is also very flexible in Netherlands. The highest indirect tax rate is 21% which is levied as VAT.
————————————————————————————————–
8. Mauritius
Mauritius, an Indian Ocean island nation, is known for its beaches, lagoons and reefs. The mountainous interior includes Black River Gorges National Park, with rain forests, waterfalls, hiking trails and wildlife like the flying fox. Capital Port Louis has sites such as the Champs de Mars horse track, Eureka plantation house and 18th-century Sir Seewoosagur Ramgoolam Botanical Gardens. The capital of Mauritius is Port Louis.
Corporations are liable to income tax on their net income, currently at a flat rate of 15%. Companies engaged in the export of goods are liable to be taxed at the rate of 3% on the chargeable income attributable to exports based on a prescribed formula.
Apart from this there is DATA is also with various countries which avoid the double tax in that countries derived from the Mauritius Republic.
All income accruing in or derived from Mauritius by a resident company is chargeable to corporation tax. Non-residents are subject to tax on income accruing in or derived from Mauritius.
————————————————————————————————–
9. Luxembourg
Luxembourg is a small European country, surrounded by Belgium, France and Germany. It’s mostly rural, with dense Ardennes forest and nature parks in the north, rocky gorges of the Multilateral region in the east and the Moselle river valley in the southeast. Its capital, Luxembourg City, is famed for its fortified medieval old town perched on sheer cliffs.
Following earnings are taxable in Luxembourg;
• Net income from employment or self-employment
• Commercial or business profits
• Profits from agriculture and forestry
• Net income from pensions and/or annuities (tax on any monthly pension income)
• Income from investments
• Net income from rental of property
• Other net income (including capital gains)
————————————————————————————————–
10. Singapore
Republic of Singapore is a sovereign island city-state in maritime Southeast Asia. Singapore is a unitary parliamentary republic with a Westminster system of unicameral parliamentary government. Singapore is widely regarded to have an in corrupt and meritocratic government, with a fair judiciary and strong rule of law.
The tax rate in Singapore on personal basis is on progressive basis i.e. higher the Income and Higher the Tax rate. The maximum personal tax rate is 22% in Singapore.
The corporate tax rate in Singapore divided into 2 parts which can be bifurcate as follows;
• First for corporate profits up-to 300,000 SGD: rate is 8.5%
• For profits above 300,000 SGD: rate is 17%
Apart from this Capital Gain, Dividend are not chargeable in tax for the corporates in Singapore.
Get Your GST @60% Discounting Price
—-! Click Here !—-
Are you looking for Company Registration in India?
India’s fastest growing destination for “Online Legal Services”.We will guide you in getting all necessary documents and registration required to get Trademark Registration in India, Please click on the below link to connect with our team of experts for free consultation of trademark search.
Apply for Company Registration.
[/fusion_text][fusion_separator style_type=”default” sep_color=”rgba(239,239,239,0)” border_size=”0″ icon=”” icon_circle=”” icon_circle_color=”” alignment=”center” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” /][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””][/fusion_text][fusion_content_boxes layout=”icon-with-title” columns=”1″ heading_size=”2″ iconspin=”no” icon_align=”left” animation_direction=”left” animation_speed=”0.3″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” /][fusion_social_links icons_boxed=”” icons_boxed_radius=”” color_type=”brand” icon_colors=”” box_colors=”” tooltip_placement=”” blogger=”” deviantart=”” digg=”” dribbble=”” dropbox=”” facebook=”https://www.facebook.com/MY-DREAM-Consultant-102829418000245/” flickr=”” forrst=”” instagram=”https://www.instagram.com/mydreamconsultant/” linkedin=”” myspace=”” paypal=”” pinterest=”” reddit=”” rss=”” skype=”” soundcloud=”” spotify=”” tumblr=”” twitter=”https://twitter.com/MYDREAMCONSULT2″ vimeo=”” vk=”” whatsapp=”https://api.whatsapp.com/send?phone=918764369079&text=” xing=”” yahoo=”” yelp=”” youtube=”https://www.youtube.com/channel/UCdOZs17rpwXfoA6yT3VWzrA” email=”” show_custom=”no” custom_5=”tel:+918764369079″ alignment=”center” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” /][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””]
Follow us On Social Media
[/fusion_text][fusion_sharing tagline=”” tagline_color=”” backgroundcolor=”” title=”TOP 10 TAX FREE COUNTRIES IN THE WORLD | TAX HEAVEN COUNTRIES !!!!!” link=”https://www.mydreamconsultant.com/top-10-tax-free-countries-in-the-world-tax-heaven-countries/” description=”VE9QIDEwIFRBWCBGUkVFIENPVU5UUklFUyBJTiBUSEUgV09STEQgfCBUQVggSEVBVkVOIENPVU5UUklFUyAhISEhIQ==” icons_boxed=”yes” icons_boxed_radius=”50%” color_type=”brand” icon_colors=”” box_colors=”” tooltip_placement=”bottom” pinterest_image=”” pinterest_image_id=”” hide_on_mobile=”small-visibility,medium-visibility” class=”” id=”” /][fusion_text columns=”1″ column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” hide_on_mobile=”small-visibility,medium-visibility” class=”” id=”” dynamic_params=”e30=”]
Share This Post on Social Media
[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_3″ layout=”1_3″ spacing=”3%” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” box_shadow=”no” box_shadow_blur=”0″ box_shadow_spread=”0″ box_shadow_color=”” box_shadow_style=”” background_type=”single” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center” linear_angle=”180″ background_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” background_blend_mode=”none” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” filter_type=”regular” filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″ first=”false” last=”true” padding_left=”0px”][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””]
India’s Leading and Experienced MSME Registering Experts…
Get Your Own Msme Registered In Just One Day
[/fusion_text][fusion_widget_area name=”avada-blog-sidebar” title_size=”1.5rem” title_color=”” background_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” padding_top=”2%” padding_right=”2%” padding_bottom=”0″ padding_left=”2%” /][fusion_separator style_type=”default” sep_color=”#ffffff” border_size=”25″ icon=”” icon_circle=”” icon_circle_color=”” alignment=”center” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” /][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
