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Which tax system is the best in the world?

asked Jun 30, 2017 in Business+Finance by Lou Vincenzo
We know there are different tax systems in different countries? Some are capitalist nation, some socialists and mixed economy too are there? Which country has the best tax system?

1 Answer

+1 thanks
answered Jul 1, 2017 by Richard Abraham earnings (80 cents)
As a supporter to Capitalism I prefer the tax system bin gulf countries. There is no income tax. Only corporates have a tax that too in a small percentage as low as 5 percent or so. But liquors and cigarettes do attract a tax with higher rate.
From today onwards India has a new tax system called GST ( goods and services tax ). It is a good system to collect more revenue to government. But I can't see anything good to common people as tax rates are high in India when compared to middle east.