International tax laws are great. When would they stop being great?
Cyprus, Bulgaria, Romania, Georgia, Thailand, Singapore, Malta, Cayman Islands, Bahamas, Saint Kitts and Nevis, Kuwait, UAE, Qatar, Monaco.
I am a tax resident of one of those countries. I earn from countries that don't tax income of non-residents.
My peers in CA, US have to pay around 40% tax on their income from work, 40% tax on short-term capital gains, 20% tax on long-term capital gains.
Me on the other hand have to pay around 0% tax for everything. I also usually live in low cost-of-living countries, which saves me up extra $20K/yr in rent compared to them.
We all work for the same kind of companies.
I can make frequent trades without worrying about tax consequences. I get the keep all the profits of my trades, which are compounded exponentially, which makes a huge difference.
I will retire a lot earlier than them.
So I think these laws are great.
I'm just wondering when these laws would stop being great. Maybe at some point there will be a global standardized tax system and none of the countries above will be able to provide any tax advantages compared to countries like Australia, Canada, US, Germany, etc.
Can that happen? When would that happen? Anyone here has any realistic clue?