Canada vs Panama: Taxes on goods and services
Taxes on goods and services over time
- Canada
- Panama
How they compare
Panama currently reports 3.7% against 2.9% in Canada, a difference of 0.8%.
That makes Panama's figure about 1.3 times Canada's.
Across all 9 years both countries report, Panama has been ahead every year.
Canada ranks 143rd and Panama ranks 140th of 154 countries.
Panama has averaged higher in every one of the 2 decades both report.
Head to head by decade
| Decade | Canada | Panama | Difference | Ahead |
|---|---|---|---|---|
| 2010s | 2.7% | 4.9% | 2.2% | Panama |
| 2020s | 2.9% | 4.2% | 1.4% | Panama |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher taxes on goods and services, Canada or Panama?
- Panama, at 3.7% against 2.9% in Canada as of 2024.
- What is the difference in taxes on goods and services between Canada and Panama?
- 0.8%, with Panama ahead.
- How many years of comparable data are there for Canada and Panama?
- 9 years are reported by both, from 2014 to 2022.
- How do Canada and Panama rank globally for taxes on goods and services?
- Canada ranks 143rd and Panama ranks 140th of 154 countries.
- Where does this data come from?
- Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as Taxes on goods and services (% value added of industry and services). Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed as a percentage of value added in industry and services which is the contribution to the economy by industries in ISIC (Rev. 3) divisions 05-43 and 50-99.