Panama: Tax preparation time

* indicates monthly or quarterly data series
 Panama

Tax preparation time, in hours

 Latest value 408
 Year 2019
 Measure hours
 Data availability 2005 - 2019
 Average 457
 Min - Max 408 - 560
 Source The World Bank (doing business survey)
The latest value from 2019 is 408 hours, unchanged from 408 hours in 2018. In comparison, the world average is 235 hours, based on data from 184 countries. Historically, the average for Panama from 2005 to 2019 is 457 hours. The minimum value, 408 hours, was reached in 2018 while the maximum of 560 hours was recorded in 2005. 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 data
Panama - Tax preparation time - Recent values chart

Historical series
Panama - Tax preparation time - historical chart - 2005-2019




Definition: Time to prepare and pay taxes is the time, in hours per year, it takes to prepare, file, and pay (or withhold) three major types of taxes: the corporate income tax, the value added or sales tax, and labor taxes, including payroll taxes and social security contributions.

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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 56.44 2023 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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