4. Monaco
Monaco is considered a high-profile tax haven country because of its personal and business tax laws and policies. Monaco is not levying any personal income tax on its resident. The person is called a resident if he resides in Monaco for six months or more, and he needs not to pay any personal income tax. There are no property taxes and a 1% tax for rental properties with other charges.
5. Oman
Oman is not collecting any taxes on the personal income of residents or non-residents, which includes capital gains, wealth, death, or property. And there is no sales tax and value-added tax.
6. Qatar
Qatar is one of the few tax-free countries globally and still has not implemented Value Added Tax, income tax, capital tax, or wealth tax. It is providing sophisticated infrastructure for living that people coming from other countries. The people from other nations are needed to pay taxes as per laws in their country.
7. Saudi Arabia
Saudi Arabia is not collecting any tax on individual income. But individuals need to contribute to social security based on the monthly salary. It is the biggest oil exporter in the world. The Saudi people are not levied to pay income tax. The ex-pats and corporates need to pay a 20 percent income tax.
