How do countries that don’t charge income tax eg Monaco, Cayman Islands pay for things that tax pays for in other countries eg roads, bridges, military, government buildings, etc

Question

How do countries that don’t charge income tax eg Monaco, Cayman Islands pay for things that tax pays for in other countries eg roads, bridges, military, government buildings, etc

In: 5

Answer 1

There are other types of taxes that can be charged — sales tax, property taxes, import duties, etc. Or taxes on specific types of activities (ie. casinos). Those places have small, wealthy populations, heavy tourism, tiny governments, small amounts of land, no military so generating taxes from hotels/restaurant taxes, casino revenues, etc. would be enough to pay for what’s needed to run a small wealthy country.