IT · EuropePA · Americas
Italy vs Panama: tax rates compared
Between the two, Italy's income tax rate (47.2%) tops Panama's (25%) by 22.2pp. The 200-country average is 28%: Italy sits above it, Panama sits below it. Italy'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 | IT | PA | Difference |
|---|---|---|---|
| Income Tax | 47.2% | 25% | IT +22.2 pplargest gap |
| Corporate Tax | 27.8% | 25% | IT +2.8 pp |
| VAT | 22% | 7% | IT +15 pp |
| Capital Gains Tax | 26% | 10% | IT +16 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Italy | 47.2% | 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 | +22.2 pp | Italy higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Italy | 27.8% | 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 | +2.8 pp | Italy higher |
Between the two, Italy's corporate tax rate (27.8%) tops Panama's (25%) by 2.8pp. The 201-country average is 22.6%: both sit above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Italy | 22% | Source: PWC Worldwide Tax Summaries — Italy (Corporate, Other taxes) · as of 2026-07-13 |
| Panama | 7% | Source: PWC Worldwide Tax Summaries — Panama (Corporate, Other taxes) · as of 2026-01-18 |
| Difference | +15 pp | Italy higher |
Between the two, Italy's VAT rate (22%) tops Panama's (7%) by 15pp. The 181-country average is 15%: Italy sits above it, Panama sits below it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Italy | 26% | Source: PWC Worldwide Tax Summaries — Italy (Individual, Income determination) · as of 2019-01-01 |
| Panama | 10% | Source: PWC Worldwide Tax Summaries — Panama (Individual, Other taxes) · as of 2026-01-18 |
| Difference | +16 pp | Italy higher |
Between the two, Italy's capital gains tax rate (26%) tops Panama's (10%) by 16pp. The 175-country average is 10.3%: Italy sits above it, Panama sits below it. Italy's figure is dated 2019-01-01 and Panama's 2026-01-18, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Italy | 0% | Source: Agenzia delle Entrate — IVIE, base imponibile e aliquota · as of 2024-01-01 |
| Panama | 0% | Source: PWC Worldwide Tax Summaries — Panama (Individual, Other taxes) · as of 2026-01-18 |
| Difference | 0 pp | displayed rates match |
There's no gap here — Italy and Panama both post a wealth tax rate of 0%. The 193-country average is 0.1%: both sit below it. Italy's figure is dated 2024-01-01 and Panama's 2026-01-18, so the two rates come from different data vintages.
Not covered for both countries yet: Crypto Tax.