Tax system in foreign country

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Guest

Guest (Querist)

30 June 2013 After studying Tax, a qs. Comes to mind that whether tax system abroad is also complicated like the indian? Does all the country have tax system? I have heared that few countries don't levy tax. Then how do they manage economy?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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30 June 2013 Tax is an essential source of revenue for the Govt. Funds are required to run even a small family. When the economy of the whole country is to be maintained, taxes are essential. In a small country like Vatican, which is a holy city for christian, there is almost no taxes. The economy of this country is dependent on the contributions and donations.
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https://www.nationsencyclopedia.com/economies/Europe/Vatican-City-POLITICS-GOVERNMENT-AND-TAXATION.html

Guest

Guest (Querist)

30 June 2013 Thanks. This was helpful sir.

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