The United Arab Emirates has one of the world's highest per-capita incomes at $49,000. It has no personal income or capital gains taxes.
Instead of generating revenue from personal income, the country, which has the world's seventh-largest crude oil and natural gas reserves, is dependent on money from oil companies that pay up to 55 percent in corporate taxes. Foreign banks pay about 20 percent. About 30 percent of the country's gross domestic product (GDP) is directly based on oil and gas output, according to the Organization of the Petroleum Exporting Countries (OPEC).
While expatriate employees don't pay for social security in the Arab country, U.A.E. citizens must make monthly contributions of 5 percent of their total earnings for social security. Employers of citizens also have to make monthly contributions of 12.5 to 15 percent of the worker's base salary for social security and pensions. Other indirect taxes include housing fees, road tolls and municipal taxes. The U.A.E. charges a 30 percent tax on alcohol, and an additional 50 percent sales tax on alcohol sold in Dubai.
Pictured: Madinat Jumeirah, Dubai, UAE.