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Also check out which states to move to if you dont want to pay taxes on Social Security.
The government derives its revenue from customs duties, payroll taxes and other indirect taxes.
Moreover, Monaco is known for being safe and luxurious.
Its also among tax-free countries where its relatively easy to become a citizen.
Cayman Islands
A major global tax haven, the Cayman Islands boasts no direct taxes.
This includes no inheritance tax, value-added tax, or capital gains tax.
The government generates revenue through trade tariffs,work permit feesand financial sector taxes.
It also doesnt impose inheritance, capital gains or value-added taxes.
Instead, a value-added tax (VAT) oncertain goods and servicesis in place.
However, it imposes corporate taxes on foreign companies in certain sectors like the UAE.
Oman
Oman is among the Gulf states that dont imposepersonal income taxon individuals.
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