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jmowreader

(53,494 posts)

21. There are only nine countries that have VAT without an income tax

Fri Jun 5, 2026, 06:06 PM

Jun 5

They are the United Arab Emirates, Saudi Arabia, Qatar, Bahrain, Kuwait, Oman, The Bahamas, the Cayman Islands, and Monaco.

What they're not telling you is those countries tax the living crap out of you in other ways. For instance, Saudi Arabia taxes the oil industry like you wouldn't believe. If you are a non-oil corporation your corporate tax rate is 20 percent. The oil industry is taxed based on the size of their businesses - from 50 percent to 85 percent. They also charge royalties on the oil pumped, and those royalties are based on the price of oil. With taxes like that they probably wouldn't need VAT. Monaco squeezes the crap out of their businesses, The Bahamas squeezes the tourists dry...

Bermuda has an income tax they call a payroll tax. Bermuda also has Land Tax, which you pay to the government even if you're a renter. They also have really high import duties, and nothing is exempt. They ALSO squeeze tourists dry.

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MadameButterfly

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