PA · AmericasSM · Europe
Panama vs San Marino: tax rates compared
San Marino's income tax rate is 10pp higher than Panama's (35% vs 25%). The 200-country average is 28%: Panama sits below it, San Marino sits above it. Panama's figure is dated 2026-01-18 and San Marino's 2025-12-12, so the two rates come from different data vintages.
Verified data covers four of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | PA | SM | Difference |
|---|---|---|---|
| Income Tax | 25% | 35% | SM +10 pplargest gap |
| Corporate Tax | 25% | 17% | PA +8 pp |
| Capital Gains Tax | 10% | 10% | match |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Panama | 25% | Source: PWC Worldwide Tax Summaries — Panama (Individual, Taxes on personal income) · as of 2026-01-18 |
| San Marino | 35% | Source: Consiglio Grande e Generale (Parliament of San Marino) — Legge 16 dicembre 2013 n.166, testo coordinato in materia di imposta generale sui redditi, Allegato C (consolidated text, updated to 12 December 2025) · as of 2025-12-12 |
| Difference | −10 pp | San Marino higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Panama | 25% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| San Marino | 17% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | +8 pp | Panama higher |
Panama's corporate tax rate is 8pp higher than San Marino's (25% vs 17%). The 201-country average is 22.6%: Panama sits above it, San Marino sits below it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Panama | 10% | Source: PWC Worldwide Tax Summaries — Panama (Individual, Other taxes) · as of 2026-01-18 |
| San Marino | 10% | Source: Consiglio Grande e Generale (Parliament of San Marino) — Legge 16 dicembre 2013 n.166, testo coordinato in materia di imposta generale sui redditi (consolidated text, updated to 22 December 2025) · as of 2026-01-01 |
| Difference | 0 pp | displayed rates match |
Panama's capital gains tax rate is identical to San Marino's — both sit at 10%. The 175-country average is 10.3%: both sit below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Panama | 0% | Source: PWC Worldwide Tax Summaries — Panama (Individual, Other taxes) · as of 2026-01-18 |
| San Marino | 0% | Source: Repubblica di San Marino, Portale del Governo — IGR: Gestione Imposte dirette, Patrimoniale (official administrative portal) · as of 2026-07-18 |
| Difference | 0 pp | displayed rates match |
Panama's wealth tax rate is identical to San Marino's — both sit at 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: VAT, Crypto Tax.