What if India has 0% Income Tax_ _ Dhruv Rathee
What if India has 0% Income Tax_ _ Dhruv Rathee
The abolition of Income tax is an idea which appeals to a lot of Indians. It may not be as unrealistic as it sounds since BJP’s own Subramaniam Swamy is an active proponent of this. This is also a reality in many countries across the world. As many as 23 countries like UAE, Bermuda, Panama, Monaco don’t have a personal income tax in their countries. Some don’t even have corporate tax. How do these countries manage to earn revenue? What are the sources of income for their governments? I explain this hypothetical scenario and how India could potentially make zero income tax.
The abolition of Income tax is an idea which appeals to a lot of Indians. It may not be as unrealistic as it sounds since BJP’s own Subramaniam Swamy is an active proponent of this. This is also a reality in many countries across the world. As many as 23 countries like UAE, Bermuda, Panama, Monaco don’t have a personal income tax in their countries. Some don’t even have corporate tax. How do these countries manage to earn revenue? What are the sources of income for their governments? I explain this hypothetical scenario and how India could potentially make zero income tax.