Subramanian Swamy: The best thing you can do today is to abolish income tax completely and you will see the economy will boom. It’s such a harassment…Subramanian Swamy (born 15 September 1939) is an Indian politician, economist and statistician holding a B.A. (Honours) in Mathematics, M.A. (Statistics), Ph.D.(Economics). He was Educated at University of Delhi, Delhi, Indian Statistical Institute, Kolkata and Harvard University, Cambridge, Massachusetts (U.S.A). Countries with no tax: It might surprise many that there are a number of countries on the face of this earth that do not levy taxes on their citizens. How do they do that. The answer is simple: other sources of revenue.

To see how this works, look at two US states with no state-level income tax – Alaska and Nevada. Alaska is a major oil producer, so roughly 90% of its revenue comes from the oil and gas industry. Let us look at some countries with no tax.

THE BAHAMAS -As one of the most popular tourist destinations in the world.

BAHRAIN- Bahrain was one of the first states in the Persian Gulf to discover oil on its lands. BRUNEI-This tiny Sultanate on the Malaysian island of Borneo also has enough oil wealth to forego income tax.

CAYMAN ISLANDS- Like the Bahamas, the Cayman Islands’ scenic beaches draw in enough tourists to keep its government afloat without the need for income tax.

KUWAIT- Like many of the Gulf countries on this list, Kuwait doesn’t need to levy an income tax thanks to its large oil industry.

MALDIVES- Imagine living in an over-water bungalow without paying a dime in income tax. Thanks to its plentiful – and expensive – resorts, the Maldives doesn’t see much need for an income tax.

MONACO- Monaco’s status as one of the world’s best tax-free countries has made it into a playground for the European elite.

NAURU- Nauru is a small island country in Micronesia that was first named “Pleasant Island” by European sailors.

OMAN-Oman is a wealthy and entrepreneurial nation that has no need for an income tax thanks to its oil and gas industry.

QATAR- At first glance, Qatar appears remarkably similar to its neighbors in the Persian Gulf.

SAINT KITTS AND NEVIS- If you’re looking for a place where you can easily establish a tax-free second residence, look no further than Saint Kitts and Nevis.

SOMALIA- Part of the reason why Somalia has no income tax is because of its status as a failed state.

UNITED ARAB EMIRATES- According to the Index of Economic Freedom, the United Arab Emirates is the 10th-freest economy in the world thanks to its openness to trade and low taxes.

VANUATU- Like many other island nations, Vanuatu relies on tourism revenue to fund its government.

WESTERN SAHARA- Western Sahara, otherwise known as the Sahwari Republic, is an anomaly among countries with no income tax. Its tax-free status is also somewhat of an enigma which is mainly due to territorial disputes.