Countries With No Income Tax
Saturday, Aug 15, 2020, 6:12 pm
By:
Tony Williams
#12 Andorra
There is no income tax in Andorra on individuals or corporations, but that's about to change. The country will collect its first income tax beginning in 2016.The new tax will apply to anyone who lives in the territory for at least 183 days in a calendar year. Andorra's chief industry is tourism. The country's lack of income tax has attracted many wealthy people who are not citizens but who make up more than 50 percent of Andorra's population.
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