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Is there a place on earth where there's no tax on income and wealth?


If yes, where is it?

Monaco, Saudi Arabia, United Arab Emirate have no individual income tax. UAE doesn't have a corporate tax or a value added tax either. Many other places' lowest tax bracket is 0%. Many of the former Soviet republics have lowered taxes and have generated economic growth and foreign investment.

However, if you are a US citizen the US taxes you on your worldwide income. So you won't be able to escape US taxes unless you become an expatriat and give up your US citizenship.
The Isle of Man near England. There may be others but librarians are hiding something.
http://www.gov.im/
Wikipedia has a list of so-called "tax havens" that have either low or no tax rates. If you're wealthy and live in America, you could also help elect presidential candidate Ron Paul, who is a strong opponent of the Income Tax. He could use some Swiftboat support.

http://en.wikipedia.org/wiki/tax_haven...
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