Panama: Commercial tax rate

* indicates monthly or quarterly data series
 Panama

Tax rate, percent of commercial profits

 Latest value 37.20
 Year 2019
 Measure percent
 Data availability 2005 - 2019
 Average 40.56
 Min - Max 37.00 - 44.70
 Source The World Bank (doing business survey)
The latest value from 2019 is 37.2 percent, unchanged from 37.2 percent in 2018. In comparison, the world average is 40.53 percent, based on data from 184 countries. Historically, the average for Panama from 2005 to 2019 is 40.56 percent. The minimum value, 37 percent, was reached in 2013 while the maximum of 44.7 percent was recorded in 2007. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Panama - Commercial tax rate - Recent values chart

Historical series
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.

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 Related indicators Latest Reference Measure
 Government spending, percent of GDP 12.76 2022 percent
 Government spending, in dollars 9.76 2022 billion U.S. dollars
 Fiscal balance, percent of GDP -2.95 2023 percent
 Government debt 57.86 2022 percent
 Government expenditure 2.40 Q1/2024 billion
 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 130.17 2022 million U.S. dollars
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