PA · AmericasSG · Asia
Panama vs Singapore: tax rates compared
Panama's income tax rate is 1pp higher than Singapore's (25% vs 24%). The 200-country average is 28%: both sit below it.
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 | PA | SG | Difference |
|---|---|---|---|
| Income Tax | 25% | 24% | PA +1 pp |
| Corporate Tax | 25% | 17% | PA +8 pp |
| VAT | 7% | 9% | SG +2 pp |
| Capital Gains Tax | 10% | 0% | PA +10 pplargest gap |
| 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 |
| Singapore | 24% | Source: Inland Revenue Authority of Singapore (IRAS) — Individual Income Tax rates · as of 2026-04-27 |
| Difference | +1 pp | Panama higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Panama | 25% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Singapore | 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 Singapore's (25% vs 17%). The 201-country average is 22.6%: Panama sits above it, Singapore sits below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Panama | 7% | Source: PWC Worldwide Tax Summaries — Panama (Corporate, Other taxes) · as of 2026-01-18 |
| Singapore | 9% | Source: PWC Worldwide Tax Summaries — Singapore (Corporate, Other taxes) · as of 2026-07-02 |
| Difference | −2 pp | Singapore higher |
Singapore's VAT rate is 2pp higher than Panama's (9% vs 7%). The 181-country average is 15%: both sit below it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Panama | 10% | Source: PWC Worldwide Tax Summaries — Panama (Individual, Other taxes) · as of 2026-01-18 |
| Singapore | 0% | Source: PWC Worldwide Tax Summaries — Singapore (Individual, Other taxes) · as of 2026-07-02 |
| Difference | +10 pp | Panama higher |
Panama's capital gains tax rate is 10pp higher than Singapore's (10% vs 0%). 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 |
| Singapore | 0% | Source: PWC Worldwide Tax Summaries — Singapore (Individual, Other taxes) · as of 2026-07-02 |
| Difference | 0 pp | displayed rates match |
Panama's wealth tax rate is identical to Singapore's — both sit at 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.