Tax system in foreign country
This query is : Resolved
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
(Expert)
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.
.
https://www.nationsencyclopedia.com/economies/Europe/Vatican-City-POLITICS-GOVERNMENT-AND-TAXATION.html
.
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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