Yes. Tax evasion is illegal and many governments have made moves to track tax evaders and punish them. Others are penalized while others depending on severity, could be imprisoned.
However, it is good to know that there are countries that don't levy taxes to their citizens. Some of them have also granted tax holidays to investors. Tax havens attract people particularly rich people who probably have the fear of giving their hard-earned money to their governments. Moreover, tax haven countries are magnets of investments.
These are the 10 countries, in no particular order that put incentives to their citizens and investors- foreign and local according to Cheap-credit-cards.org
- United Arab Emirates
- Hong Kong
- Cyprus
- Georgia
- Singapore
- Russia
- Taiwan
- Thailand
- South Africa
- The Philippines
Good to have the Philippines on the list despite certain issues of the current administration over the imposing of additional 2% of VAT from 10% VAT.
However, the Philippine government has provided tax incentives to accredited companies, foreign and local with offices and operations on the country's many economic zones.
I don't know with other countries though.
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