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Estonia vs Panama: tax rates compared
Panama's income tax rate is 3pp higher than Estonia's (25% vs 22%). The 200-country average is 28%: both sit below it. Estonia's figure is dated 2025-01-01 and Panama's 2026-01-18, so the two rates come from different data vintages.
Verified data covers five of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | EE | PA | Difference |
|---|---|---|---|
| Income Tax | 22% | 25% | PA +3 pp |
| Corporate Tax | 22% | 25% | PA +3 pp |
| VAT | 24% | 7% | EE +17 pplargest gap |
| Capital Gains Tax | 22% | 10% | EE +12 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Estonia | 22% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Panama | 25% | Source: PWC Worldwide Tax Summaries — Panama (Individual, Taxes on personal income) · as of 2026-01-18 |
| Difference | −3 pp | Panama higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Estonia | 22% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Panama | 25% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −3 pp | Panama higher |
Panama's corporate tax rate is 3pp higher than Estonia's (25% vs 22%). The 201-country average is 22.6%: Estonia sits below it, Panama sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Estonia | 24% | Source: Estonian Tax and Customs Board (EMTA) — Value added tax · as of 2025-07-01 |
| Panama | 7% | Source: PWC Worldwide Tax Summaries — Panama (Corporate, Other taxes) · as of 2026-01-18 |
| Difference | +17 pp | Estonia higher |
Estonia's VAT rate is 17pp higher than Panama's (24% vs 7%). The 181-country average is 15%: Estonia sits above it, Panama sits below it. Estonia's figure is dated 2025-07-01 and Panama's 2026-01-18, so the two rates come from different data vintages.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Estonia | 22% | Source: PwC Worldwide Tax Summaries — Estonia, Individual - Taxes on personal income · as of 2026-05-29 |
| Panama | 10% | Source: PWC Worldwide Tax Summaries — Panama (Individual, Other taxes) · as of 2026-01-18 |
| Difference | +12 pp | Estonia higher |
Estonia's capital gains tax rate is 12pp higher than Panama's (22% vs 10%). The 175-country average is 10.3%: Estonia sits above it, Panama sits below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Estonia | 0% | Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2026-05-29 |
| Panama | 0% | Source: PWC Worldwide Tax Summaries — Panama (Individual, Other taxes) · as of 2026-01-18 |
| Difference | 0 pp | displayed rates match |
Estonia's wealth tax rate is identical to Panama's — both sit at 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.