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.

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0:00 Introduction
1:17 Direct Taxes vs Indirect Taxes
4:50 Advantages of Zero Income Tax
8:14 Disadvantages of Zero Income Tax
9:06 Case Study: UAE
10:23 Case Study: Monaco
11:08 Case Study: Bermuda
12:20 New Sources of Income?