Countries with no wealth tax

No personal income tax on salaries, dividends, interest or capital gains for individuals. Corporate tax can apply to individuals only if they run a business or business-like activity in the UAE with turnover above AED 1m a year.

Flat 22% on residents' income, with a basic allowance of up to EUR 700 a month from 2026. Non-residents are taxed only on Estonian-source income.

Flat 20% on employment and business income. Individual entrepreneurs with Small Business Status pay 1% of gross turnover up to GEL 500,000 (3% on the excess month onward; status is lost if the cap is exceeded two years in a row). Check rs.ge for 2026 changes to the special-regime rules.

Progressive resident rates from 0% to 24% (24% on chargeable income above S$1,000,000 from YA2024). Non-residents pay 15% on employment income or the resident rate, whichever is higher, and 24% on most other income. Foreign-sourced income received by individuals is generally exempt.

Three bands from 2026: 20%, 25% and 32% (thresholds linked to average wages; 32% above roughly 60x the average monthly wage). Dividends: 15% PIT. Sole proprietors may use a business certificate with a flat income-tax rate.

Federal top marginal rate 37% for US tax residents plus state income tax (0% in states such as Texas, Florida, Wyoming, Nevada; up to ~13% in California). Non-residents are taxed only on US-source income. The US is the only major country that taxes citizens on worldwide income wherever they live (citizenship-based taxation); green-card holders are taxed as residents.

No personal income tax, capital gains, inheritance or wealth tax. Payroll tax and social contributions apply to employers and employees on local employment, and stamp duty applies to property transactions.

Salaries tax is progressive from 2% to 17% on net chargeable income but capped at a standard rate of 15% on the first HK$5m of net income and 16% above that. Only Hong Kong-sourced employment income is taxed. Property tax and profits tax apply to rental and business income.

No personal income tax. Residents pay VAT, import duties, real property tax and stamp duty on property transfers (2.5%–10%).

Flat 20% personal income tax on employment income since 2023 (reduced rates apply to employees of qualifying high-tech companies), plus mandatory pension contributions of 5% to 10%.

No personal income tax on salaries, dividends, interest or business income. Employees (including expats) pay social insurance (unemployment insurance 1% for employees).

Flat 10% on employment, business and most other income. Self-employed and employees also pay social and health contributions up to a monthly insurable income ceiling of about EUR 2,100.

No personal income tax, capital gains, inheritance or payroll taxes on residents. Revenue comes from import duties (typically 22%–27%), stamp duty on property (7.5%) and work permit fees.

Progressive 0%/15%/25% on Panama-source income (0% up to $11,000, 15% up to $50,000, 25% above). Foreign-source income of individuals is not taxed. Employees also pay social security and an education levy on salaries.

Residents pay 0% on monthly income up to about SCR 8,555 and 15% above that (confirm the current bands with the Seychelles Revenue Commission). Non-residents are generally taxed on Seychelles-source income only. Gainful Occupation Permit holders are residents for tax purposes after the qualifying stay.

20% to about EUR 44,000 and 40% above (2025/26). With USC (up to 8%) and PRSI (4%) the effective top marginal rate is around 52%. A foreign-earnings deduction and remittance basis for non-domiciled residents apply in some cases.

20% basic, 40% higher (over GBP 50,270), 45% additional (over GBP 125,140). Thresholds frozen until April 2031. Dividends: 10.75% basic, 35.75% higher, 39.35% additional from 6 April 2026; GBP 500 dividend allowance.

Progressive personal income tax of 0%, 9% and 15% on monthly income bands since the 2022 Europe Now reform (0% on the lowest band, 15% above about EUR 1,000 a month), plus social contributions. Verify current bands with the Tax Administration.

Flat 10% personal income tax on salary and most other income, plus social contributions of about 27% on gross pay (largely employee-borne).

IRP at 8% or 10% on Paraguayan-source personal income from services and 10% above a threshold; foreign-source income is not taxed. Individuals are taxed only on Paraguay-source income.

No personal income tax or capital gains tax. Employees and employers pay payroll tax on remuneration (the main source of government revenue), and there is land tax and stamp duty.

Flat 20% income tax on taxable income after a personal allowance, with a tax cap for qualifying residents under the Higher Net Worth / Open Market regime.

Residents pay up to 25% on Belize-source income above about BZD 78,000; the first BZD 26,000 is exempt. Foreign-source income is not taxed (territorial system).

A wage tax applies to individuals earning wages in the Marshall Islands: 8% on lower earnings and 12% above a threshold. There is no separate income tax on foreign-source income of non-resident entities, and no tax on overseas investment income for non-residents.

Puerto Rico residents pay local tax up to 33% on worldwide income. Bona fide PR residents who are US citizens generally exclude PR-source income from US federal tax (IRC §933), so Act 60 gains are taxed only in Puerto Rico; US-source income remains federally taxable. Non-US founders become tax residents of PR if they meet the presence, tax-home and closer-connection tests.

No personal income tax, capital gains tax, wealth tax or inheritance tax. Government revenue comes from stamp duty (up to 12.5% for non-resident property buyers), property tax, GST, import duties and tourism taxes.

2026/27: 10% on taxable income up to GBP 6,500 (GBP 13,000 joint) and 21% above, after a personal allowance of GBP 17,000. Individuals can elect to cap their income tax at GBP 220,000 (GBP 440,000 jointly) for five or ten years.

Standard rate of 20% on taxable income after allowances; marginal relief can produce an effective marginal rate of up to 26% on lower incomes. Social security contributions are separate.

No personal income tax, no capital gains tax and no wealth or inheritance tax. Employers pay Vanuatu National Provident Fund contributions (about 8% employer and 4% employee) for local employees.

12% up to PLN 120,000 and 32% above (PLN 30,000 tax-free amount), plus 4% solidarity tax above PLN 1m. Business owners may opt for a 19% flat tax or a lump-sum (ryczałt) of 8.5%/12% on IT and similar services. Health contributions apply on top.

Most sources state personal income tax was abolished in 2016; some guides cite progressive rates for self-employed income (up to 25%), so confirm with the Inland Revenue Department. There is no capital gains tax (property transfer tax of 7.5% applies), wealth tax or inheritance tax.

25.5% up to EUR 105,300 and 33% above; an additional 3% applies to total annual income above EUR 200,000 (first applied in 2026 for tax year 2025). Wage-linked rates differ from earlier years; confirm with the SRS.

No personal income tax today. Royal Decree 56/2025 introduces a 5% tax on annual income above OMR 42,000 from 1 January 2028; it is expected to affect roughly 1% of the population.

No personal income tax on salaries or investment income of individuals. Individuals with business, rental or professional income pay through the 10% corporate/partnership rules.

Flat 10% on most income. Employees and freelancers also pay pension (CAS 25%) and health (CASS 10%) contributions, with thresholds linked to the minimum wage.

No personal income tax, capital gains tax, wealth tax or inheritance tax. Government revenue comes from VAT, property transfer tax, stamp duty and payroll-related levies.

No personal income tax on salaries, dividends, interest or capital gains. Citizens and permanent residents pay to the Employees Trust Fund and Supplemental Contributory Pension schemes.

Reformed in 2026: tax-free allowance raised to EUR 22,000 and top 35% above about EUR 72,000. Employment income of EUR 55k+ earned by non-residents who relocate to Cyprus may be 50% exempt in some cases.

Residents (182+ days) pay progressive rates from 0% to 30% (30% above RM2m). Non-residents pay a flat 30%. Foreign-sourced income received in Malaysia by resident individuals is exempt until 31 December 2036 (not for partnerships, and with conditions for companies). Confirm current LHDN guidance before relying on this.

Progressive rates of 10.5%, 17.5%, 30%, 33% and 39% (39% on income above NZ$180,000). Residents are taxed on worldwide income, but new migrants and returning residents get a 4-year exemption on most foreign income under the transitional resident rules. ACC levies also apply.