Panama: Commercial tax rate

* indicates monthly or quarterly data series
 Panama

Tax rate, percent of commercial profits

 Latest value 37.2
 Year 2019
 Measure percent
 Data availability 2005 - 2019
 Average 40.56
 Min - Max 37 - 44.7
 Source The World Bank (doing business survey)
For that indicator, we provide data for Panama from 2005 to 2019. The average value for Panama during that period was 40.56 percent with a minimum of 37 percent in 2013 and a maximum of 44.7 percent in 2007. The latest value from 2019 is 37.2 percent. For comparison, the world average in 2019 based on 184 countries is 40.53 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series


Recent values chart
Panama - Commercial tax rate - recent values

Historical chart
Panama - Commercial tax rate - historical chart - 2005-2019




Definition: Total tax rate measures the amount of taxes and mandatory contributions payable by businesses after accounting for allowable deductions and exemptions as a share of commercial profits. Taxes withheld (such as personal income tax) or collected and remitted to tax authorities (such as value added taxes, sales taxes or goods and service taxes) are excluded.


 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 11.42 2017 percent
 Government spending, in dollars 7.10 2017 billion U.S. dollars
 Fiscal balance, percent of GDP -3.93 2022 percent
 Government debt 57.86 2022 percent
 Tax revenue 7.46 2021 percent
 Commercial tax rate 37.20 2019 percent
 Tax preparation time 408 2019 hours
 Number of taxes 36 2019 taxes
 Taxes on goods and services 33.26 2021 percent
 Taxes on international trade 3.79 2021 percent
 Income and profits taxes 29.06 2021 percent
 Foreign aid 90.51 2021 million U.S. dollars
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