Are there any countries(nations) in the world that don't have any property taxes(such as council tax in the UK) and no rental income tax?
Are there any countries in the world that don't have BOTH of these types of taxes?
Essentially where you can buy your property and fully own it without having to pay the government any money for owning the property after you have fully bought it. Of course you would have to pay the utility bills, but that's about it.
While no property income tax would mean not having to pay the government anything from rental income, if you were to rent such a property out.
Are there any countries that do not have BOTH of these kinds of taxes?
- 10 months ago
None of the UAE countries levy property purchase taxes or annual property taxes, nor any income or capital gains taxes. However, you must still pay a municipality tax. All property owners must pay 5% of the average rental value in their area.
But these are a feudal states where only citizens have rights. As a foreigner you never actually own something where there is no rule of law because you only own it until a citizen decides he wants it or that he does not like you.
- SlickterpLv 710 months ago
No property taxes in UAE, Cambodia, and Thailand. You can now look up what other taxes they have.
- KISS MY GRITSLv 610 months ago
- sunshine_melLv 710 months ago
Council tax pays for local services; it's not about owning the property, it's about living in the area.
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- MaxiLv 710 months ago
CT in Britain and rates in NI is charged by local councils, it pays for local needs like road maintenance, streetlighting, police, ambulance. fires service, libraries, community centres it is not 'paying the Government for owning property' CT is paid by residents regardless of if they own or rent, rates in NI is paid directly by the landlord not the renter however of course it is charged as part of the rent they pay..and income tax, is paid on income, so rent is passive income and all income is taxed over personal allowance which is £12,500 (2019/20) so everyone can earn that before paying any income tax, additionally if a home owner rents out a room in their own home they can earn an additional £7,500 before they pay income tax with the 'rent a room scheme'
- Anonymous10 months ago
….such as council tax in the UK... Council Tax is NOT a property tax. It is a local tax, but the amount you pay is based on the value of your property. Even people who rent pay Council Tax.
In the UK, you don't pay the Govt for owning the property
- StephenWeinsteinLv 710 months ago
Not having these taxes would not mean getting to keep all the rental income. Not having these taxes would mean not having the courts you need to evict tenants who don't pay, so the tenants would not pay, and there would be no rental income.
Not having these taxes would not mean being able to fully own your property for very long without paying. Not having these taxes would mean no police or fire department, so your property would be destroyed by vandalism or fire pretty soon.