Mongolia vs Panama: tax rates compared

Income Tax

Income Tax, side by side

Country	Rate	Source
Mongolia	20%	Source: PWC Worldwide Tax Summaries — Mongolia (Individual, Taxes on personal income) · as of 2026-06-08
Panama	25%	Source: PWC Worldwide Tax Summaries — Panama (Individual, Taxes on personal income) · as of 2026-01-18
Difference	−5 pp	Panama higher

Corporate Tax

Corporate Tax, side by side

Country	Rate	Source
Mongolia	25%	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	0 pp	displayed rates match

Mongolia and Panama share the same corporate tax rate: 25%. The 201-country average is 22.6%: both sit above it.

VAT

VAT, side by side

Country	Rate	Source
Mongolia	10%	Source: PWC Worldwide Tax Summaries — Mongolia (Corporate, Other taxes) · as of 2026-06-08
Panama	7%	Source: PWC Worldwide Tax Summaries — Panama (Corporate, Other taxes) · as of 2026-01-18
Difference	+3 pp	Mongolia higher

Mongolia has a VAT rate of 10%, 3pp above Panama's 7%. The 181-country average is 15%: both sit below it.

Capital Gains Tax

Capital Gains Tax, side by side

Country	Rate	Source
Mongolia	10%	Source: PwC Worldwide Tax Summaries — Mongolia (Individual, Income determination) · as of 2026-06-08
Panama	10%	Source: PWC Worldwide Tax Summaries — Panama (Individual, Other taxes) · as of 2026-01-18
Difference	0 pp	displayed rates match

Mongolia and Panama share the same capital gains tax rate: 10%. The 175-country average is 10.3%: both sit below it.

Wealth Tax

Wealth Tax, side by side

Country	Rate	Source
Mongolia	0%	Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2026-06-08
Panama	0%	Source: PWC Worldwide Tax Summaries — Panama (Individual, Other taxes) · as of 2026-01-18
Difference	0 pp	displayed rates match

Mongolia and Panama share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.