Saturday, March 07, 2015

The tax paradise that is Saudi Arabia

There are no income taxes, sales taxes, value-added taxes in Saudi Arabia.  Corporate taxes and capital gains taxes seem to be a flat 20% except maybe for oil & gas business.   This is possible because the Saudi state gets all its revenue from the oil business.  

Libertarians should be asked to explain why Saudi Arabia is not the economic leader of the world.

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