It is a universal truth that no one likes paying taxes. A simple way to not pay taxes is by not having a source of income. But on a serious note there are plenty of ways to reduce your taxes and in some cases even cut them out completely.
Another way to reduce your tax burdens is charitable donations. Donating to registered charities is an effective way to reduce your taxable income. Whenever you donate to a charity you receive a tax receipt that can be used to reduce your tax liability. Just ensure that the charity is recognized with the relevant tax authorities in the country, for example in Thailand it must be registered and recognized by the Thai Revenue Department. And even so your Tax deduction can only be 10% of your total taxable income.
Now that you have read this far into the article I will give you an actual way to not pay taxes. Move to a tax haven such as Monaco or The Bahamas alternatively have a Swiss bank account. Swiss banking law makes it a legal requirement for banks not to disclose any of their client information to anyone, not even the Swiss government themselves can get access to the clients information. Now I know that most people won’t want to move halfway around the world just to get some tax benefits and you don't but most countries in South East Asia have a relatively low tax rate compared to our Western counterparts.
There are a few simple steps to reduce your tax burden. The first way I’ll talk about self-employment tax deductions. If you are a freelancer or a small business owner, you can deduct business expenses from your taxable income. This includes costs like office supplies, travel expenses and even part of your home if you work remotely.
Tax credits are also a powerful weapon to reduce your taxes. How does it work? Well if you have to pay $4000 in taxes but can get a $2000 tax credit, your new bill is $2000. How do you get these tax credits? You can invest in specific funds, for example in Thailand you can invest in the Thailand Super Savings Fund and get 30% of assessable income (assessable income is the taxable income after exceeding the tax-free threshold), with a maximum limit of 200,000 Thai Baht.
To conclude this article if you want to not pay taxes just open a Swiss bank account (easier said than done) or move to a tax haven. But there are a lot of different ways to reduce your tax burden. Just having a basic understanding of the tax law in your country (again easier said than done) can immensely help you reduce your taxes.