Everyone wants to live in a country with a low tax rate. The lower the tax rate, the more income you take home at the end of the year. However, there are lots of considerations in determining which country actually has the lowest tax rates. Some countries may have low income tax rates, but very high sales tax rates. Other countries may have low individual tax rates, but high corporate tax rates. In addition, some countries have low tax rates all around but the cost of living in the country is so expensive it may not be worth the tax savings. For example, Monaco has a zero individual income tax rate, but buying a house in Monaco will cost you at least 600,000 euro. On the other hand, Bahrain has a zero individual income tax rate and zero corporate tax rate and they have a much lower cost of living, but they do not offer the same quality of living as other European countries.
Infographic Source : http://universaltaxprofessionals.com/2015/12/09/countries-with-the-lowest-tax-rates-infographic/
Infographic Source : http://universaltaxprofessionals.com/2015/12/09/countries-with-the-lowest-tax-rates-infographic/