PA · AmericasTR · Asia
Panama vs Türkiye: tax rates compared
Türkiye's income tax rate is 15.8pp higher than Panama's (40.8% vs 25%). The 200-country average is 28%: Panama sits below it, Türkiye sits above it. Panama's figure is dated 2026-01-18 and Türkiye's 2025-01-01, 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 | PA | TR | Difference |
|---|---|---|---|
| Income Tax | 25% | 40.8% | TR +15.8 pplargest gap |
| Corporate Tax | 25% | 25% | match |
| VAT | 7% | 20% | TR +13 pp |
| Capital Gains Tax | 10% | 0% | PA +10 pp |
| 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 |
| Türkiye | 40.8% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −15.8 pp | Türkiye higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Panama | 25% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Türkiye | 25% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | 0 pp | displayed rates match |
Panama's corporate tax rate is identical to Türkiye's — both sit at 25%. The 201-country average is 22.6%: both sit above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Panama | 7% | Source: PWC Worldwide Tax Summaries — Panama (Corporate, Other taxes) · as of 2026-01-18 |
| Türkiye | 20% | Source: PWC Worldwide Tax Summaries — Turkey (Corporate, Other taxes) · as of 2026-03-27 |
| Difference | −13 pp | Türkiye higher |
Türkiye's VAT rate is 13pp higher than Panama's (20% vs 7%). The 181-country average is 15%: Panama sits below it, Türkiye sits above it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Panama | 10% | Source: PWC Worldwide Tax Summaries — Panama (Individual, Other taxes) · as of 2026-01-18 |
| Türkiye | 0% | Source: PWC Worldwide Tax Summaries — Turkey (Individual, Income determination) · as of 2026-03-27 |
| Difference | +10 pp | Panama higher |
Panama's capital gains tax rate is 10pp higher than Türkiye'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 |
| Türkiye | 0% | Source: PWC Worldwide Tax Summaries — Türkiye (Individual, Other taxes) · as of 2026-03-27 |
| Difference | 0 pp | displayed rates match |
Panama's wealth tax rate is identical to Türkiye's — both sit at 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.