More like no taxes. From what i heard, they have no sales tax, or income tax (including companies). And a flat 5% duty on all duty (with that even exempted on certain goods such as computers).
https://americansabroad.org/issues/taxation/us-taxes-while-l...
http://www.irs.gov/Individuals/International-Taxpayers/Forei...
http://www.irs.gov/Individuals/International-Taxpayers/What-...
https://americansabroad.org/issues/taxation/us-taxes-while-l...