We all know that as we earn income, we're required to pay taxes. Generally, the more you earn, the higher your taxes. But what about countries with weaker economies that don't strictly enforce tax laws? Would you prefer to live in such a place?
Let’s break this down: What do taxes actually do, and what are the pros and cons of living in a country where tax enforcement is weak? Overall, does this benefit the people, or does it ultimately make life harder for them?
If I have leave my country, the I would prefer to live in a country where tax is zero. Alternatively I would want to live somewhere where we get good infrastructure, healthcare and education related benefits for the taxes I pay. Having a weak tax authority is a gamble.
In many countries, citizens are required to keep records for at least 7 to 10 years. If a country has a weak tax administration today, there's no guarantee that they won't become active in a couple of years and start demanding old taxes. It's a gamble to be honest!