Taxes on income, profits and capital gains in Panama
Panama: Taxes on income, profits and capital gains was 2.71 billion current LCU in 2024. ▲ Rising
Taxes on income, profits and capital gains in Panama, 2014–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2024, taxes on income, profits and capital gains in Panama stood at 2.71 billion current LCU.
The figure is down 25.6% on the previous year and up 32.5% over ten years.
Over the whole period, taxes on income, profits and capital gains in Panama peaked at 3.65 billion current LCU in 2023 and was at its lowest, 2.04 billion current LCU, in 2020.
That places Panama 126th out of 153 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 11 years of available data.
Taxes on income, profits and capital gains in Panama, year by year
| Year | current LCU | Change |
|---|---|---|
| 2014 | 2.05 billion current LCU | — |
| 2015 | 2.26 billion current LCU | +10.4% |
| 2016 | 2.62 billion current LCU | +16.0% |
| 2017 | 2.69 billion current LCU | +2.7% |
| 2018 | 2.95 billion current LCU | +9.5% |
| 2019 | 2.65 billion current LCU | -10.2% |
| 2020 | 2.04 billion current LCU | -22.9% |
| 2021 | 2.20 billion current LCU | +7.7% |
| 2022 | 3.03 billion current LCU | +37.6% |
| 2023 | 3.65 billion current LCU | +20.5% |
| 2024 | 2.71 billion current LCU | -25.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 2.54 billion current LCU | 2.05 billion current LCU | 2.95 billion current LCU | 6 |
| 2020s | 2.73 billion current LCU | 2.04 billion current LCU | 3.65 billion current LCU | 5 |
Countries ranked near Panama
- 123 El Salvador 3.06 billion current LCU compare
- 124 Tajikistan 2.74 billion current LCU compare
- 125 Maldives 2.74 billion current LCU compare
- 127 Bolivia, Plurinational State of 2.58 billion current LCU
- 128 Belarus 2.43 billion current LCU compare
- 129 Croatia 2.37 billion current LCU compare
More public sector data for Panama
- Arms imports 2.00 million SIPRI trend indicator values (1989)
- Arms imports (SIPRI trend indicator values), per capita 0.832 SIPRI trend indicator values per person (1989)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0003 SIPRI trend indicator values per US$ of GDP (1989)
- Arms imports (SIPRI trend indicator values), annual growth rate -91.3 % change on previous year (1989)
- Arms imports (SIPRI trend indicator values), gaps filled 2.00 million SIPRI trend indicator values (1989)
- Military expenditure (current USD), per capita 0 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate -100 % change on previous year (2000)
- Military expenditure (current USD), gaps filled 0 current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 26.9 SIPRI trend indicator values per square kilometre (1989)
Frequently asked questions
- What is taxes on income, profits and capital gains in Panama?
- Taxes on income, profits and capital gains in Panama was 2.71 billion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on income, profits and capital gains recorded in Panama?
- The highest recorded value was 3.65 billion current LCU in 2023.
- What is the lowest taxes on income, profits and capital gains recorded in Panama?
- The lowest recorded value was 2.04 billion current LCU in 2020.
- How does Panama rank for taxes on income, profits and capital gains?
- Panama ranks 126th out of 153 countries with data for 2024.
- Is taxes on income, profits and capital gains rising or falling in Panama?
- Over the last ten years it is up 32.5%. The long-run trend across the full record is rising.
- Where does this Panama data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on income, profits and capital gains (current LCU). Statizoid updates them automatically from the source API.
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About this data
Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.