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Personal Income Tax Rate in Panama

Tax Rate For Individuals in Panama

Indicator Data Period
Personal Income Tax Rate 25 % 2023


Latest data on Personal Income Tax Rate (%)

Personal Income Tax Rate
                     Panama - Historical Data (%)

What is personal tax rate in Panama?

  • Personal Income Tax Rate in Panama remained unchanged at 25 % in 2023. The maximum rate was 33 % and minimum was 25 %.
  • Data published Yearly by General Directorate of Revenues.

Historical Data (%) by years

Data
Period
Date
25 2023 31.03.2023
25 2022 24.10.2022
25 2021 02.06.2021
25 2020 11.02.2020
25 2018 12.02.2018
25 2016 11.08.2017


Historical Chart by presidents (%)

Personal Income Tax Rate in Panama by presidents

Name Period Start Data End Data Max Value Min Value CHG% Start/End
Juan Varela 01.07.2014 - 25.0000 25.0000 25.0000 25.0000 0.00%

Other taxes in Panama

Index Updated Actual Previous
Corporate Tax Rate 2023 25 % 25
Sales Tax Rate 2023 7 % 7
Social Security Rate 2023 22 % 22.25

Personal Income Tax Rate in other countries

Country Updated Actual Previous
Colombia 2023 39 % 39
Panama 2023 25 % 25
Puerto Rico 2023 33 % 33
Honduras 2023 25 % 25
Brazil 2023 27.5 % 27.5
Chile 2023 40 % 40
Argentina 2023 35 % 35
Canada 2022 33 % 33
Ecuador 2022 37 % 35
Mexico 2023 35 % 35
Peru 2023 30 % 30
United States 2023 37 % 37
Uruguay 2023 36 % 36
Jamaica 2023 30 % 30
Suriname 2023 38 % 38
Venezuela 2023 34 % 34
Cameroon 2023 38.5 % 38.5
Dominican Republic 2023 25 % 25
Nicaragua 2023 30 % 30