Brunei Darussalam is the only Asian country to make the list of the nations with zero income taxes.
While there is no income tax in Brunei, employees are required to contribute 5 percent of their wages to a social security trust fund, and 3.5 percent to a pension scheme, which are both matched by the employer. The wages of a non-resident director, however, are subject to a 20 percent withholding tax. Other taxes include a 12 percent tax on buildings located in the capital city of the sultanate -- Bandar Seri Begawan.
Like most countries with zero income taxes, oil and gas account for a bulk of the Brunei government's revenues as the fourth largest oil producer in Southeast Asia. Hydrocarbons take up over 90 percent of Brunei's exports and more than 50 percent of its GDP. However, depleting natural resources has led to a government push to diversify the economy, away from oil and gas. Plans include upgrading the labor force, reducing unemployment and strengthening the banking and tourism sectors.