Decision Time in the South Pacific: Income Tax or Mitchell’s Golden Rule?

International Liberty

Can you identify the nation with the world’s 7th-friendliest tax system according to the Index of Economic Freedom?

Don’t know the answer? Well, here’s a hint. If you don’t count Middle Eastern nations that finance their governments with oil money, this is the nation that is in second place, behind only the Bahamas.

Still don’t know?

Well, don’t be embarrassed because most people have never heard of the place. This tax paradise is an obscure nation in the South Pacific called Vanuatu. Comprised of dozens of islands, Vanuatu is one of the few places in the world that doesn’t have an income tax. No personal income tax (I’m jealous). No corporate income tax (I’m jealous). No capital gains tax (I’m jealous). No death tax (I’m jealous).

Nada. Zero. Zilch.

But the absence of an income tax bothers some outsiders. Nations…

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