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North Macedonia vs Panama: tax rates compared
Panama has an income tax rate of 25%, 15pp above North Macedonia's 10%. The 200-country average is 28%: both sit below it. North Macedonia's figure is dated 2023-01-01 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 | MK | PA | Difference |
|---|---|---|---|
| Income Tax | 10% | 25% | PA +15 pplargest gap |
| Corporate Tax | 10% | 25% | PA +15 pp |
| VAT | 18% | 7% | MK +11 pp |
| Capital Gains Tax | 10% | 10% | match |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| North Macedonia | 10% | Source: PWC Worldwide Tax Summaries — North Macedonia (Individual, Taxes on personal income) · as of 2023-01-01 |
| Panama | 25% | Source: PWC Worldwide Tax Summaries — Panama (Individual, Taxes on personal income) · as of 2026-01-18 |
| Difference | −15 pp | Panama higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| North Macedonia | 10% | 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 | −15 pp | Panama higher |
Panama has a corporate tax rate of 25%, 15pp above North Macedonia's 10%. The 201-country average is 22.6%: North Macedonia sits below it, Panama sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| North Macedonia | 18% | Source: PWC Worldwide Tax Summaries — North Macedonia (Corporate, Other taxes) · as of 2026-07-23 |
| Panama | 7% | Source: PWC Worldwide Tax Summaries — Panama (Corporate, Other taxes) · as of 2026-01-18 |
| Difference | +11 pp | North Macedonia higher |
North Macedonia has a VAT rate of 18%, 11pp above Panama's 7%. The 181-country average is 15%: North Macedonia sits above it, Panama sits below it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| North Macedonia | 10% | Source: PwC Worldwide Tax Summaries — North Macedonia (Individual, Taxes on personal income) · as of 2026-02-08 |
| Panama | 10% | Source: PWC Worldwide Tax Summaries — Panama (Individual, Other taxes) · as of 2026-01-18 |
| Difference | 0 pp | displayed rates match |
North Macedonia and Panama share the same capital gains tax rate: 10%. The 175-country average is 10.3%: both sit below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| North Macedonia | 0% | Source: Ministry of Finance of the Republic of North Macedonia — Taxes and Customs · as of 2026-07-18 |
| Panama | 0% | Source: PWC Worldwide Tax Summaries — Panama (Individual, Other taxes) · as of 2026-01-18 |
| Difference | 0 pp | displayed rates match |
North Macedonia and Panama share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.