Panama: Income and profits taxes

The latest value from 2024 is 29.14 percent, a decline from 36.01 percent in 2023. In comparison, the world average is 26.54 percent, based on data from 91 countries. Historically, the average for Panama from 2014 to 2024 is 31.65 percent. The minimum value, 28.57 percent, was reached in 2021 while the maximum of 36.01 percent was recorded in 2023. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.