Facts
- Tax revenue, % of GDP
- 7.2 % (2024)
- Tax revenue level
- Under 10% of GDP
- Taxes on income, profits and capital gains, % of revenue
- 43.7 % (2024)
- Taxes on goods and services, % of value added
- 3.7 % (2024)
- ISO code
- PAN
Sources: OECD Corporate Tax Statistics, OECD Tax Database, World Bank WDI (CC BY 4.0)
Tax revenue, % of GDP
| Period | Value |
|---|---|
| 2024 | 7.2 % |
| 2023 | 8.4 % |
| 2022 | 8.6 % |
| 2021 | 7.9 % |
| 2020 | 8.3 % |
| 2019 | 8.8 % |
| 2018 | 9.6 % |
| 2017 | 9.7 % |
| 2016 | 10.1 % |
| 2015 | 9.8 % |
| 2014 | 10.0 % |
Taxes on income, profits and capital gains, % of revenue
| Period | Value |
|---|---|
| 2024 | 43.7 % |
| 2023 | 51.8 % |
| 2022 | 46.0 % |
| 2021 | 41.5 % |
| 2020 | 43.3 % |
| 2019 | 42.9 % |
| 2018 | 45.7 % |
| 2017 | 43.3 % |
| 2016 | 43.6 % |
| 2015 | 41.4 % |
| 2014 | 40.0 % |
Taxes on goods and services, % of value added
| Period | Value |
|---|---|
| 2024 | 3.7 % |
| 2023 | 3.6 % |
| 2022 | 4.2 % |
| 2021 | 4.2 % |
| 2020 | 4.3 % |
| 2019 | 4.6 % |
| 2018 | 4.6 % |
| 2017 | 4.9 % |
| 2016 | 5.1 % |
| 2015 | 5.0 % |
| 2014 | 5.2 % |
Year by year · 11
| Country-year | Combined corporate income tax rate | Top statutory personal income tax rate | Tax revenue, % of GDP |
|---|---|---|---|
| Panama 2024 | — | — | 7.2 % |
| Panama 2023 | — | — | 8.4 % |
| Panama 2022 | — | — | 8.6 % |
| Panama 2021 | — | — | 7.9 % |
| Panama 2020 | — | — | 8.3 % |
| Panama 2019 | — | — | 8.8 % |
| Panama 2018 | — | — | 9.6 % |
| Panama 2017 | — | — | 9.7 % |
| Panama 2016 | — | — | 10.1 % |
| Panama 2015 | — | — | 9.8 % |
| Panama 2014 | — | — | 10.0 % |