Panama has been one of the fastest growing economies in Latin America over the past decade
Before the international financial crisis, the Panamanian economy had the highest growth rate in Latin America (this was due to the enlargement of the Panama Canal, as well as the development of the Colon Free-Trade Zone
Business highlights and rankings for Panama from the World Bank
The Sales Tax Rate in Panama stands at 7 percent. Sales Tax Rate in Panama averaged 6.20 percent from 2006 until 2015, reaching an all time high of 7 percent in 2010 and a record low of 5 percent in 2007. Sales Tax Rate in Panama is reported by...
Most businesses in Panama are corporations – Sociedades Anónimas (SA).
There are 3 normal business entities here in Panama: Sole Proprietor, Partnership and Corporation
This site provides a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Panama.
The 6 steps provided on this site are the requirements for registering your business
The Corporate Tax Rate in Panama stands at 25 percent. Corporate Tax Rate in Panama averaged 30.76 percent from 1997 until 2015, reaching an all time high of 37 percent in 1998 and a record low of 25 percent in 2011. Corporate Tax Rate in Panama is reported by...
Panamanian income tax is levied based on the territoriality principle. Panamanian-source income is subject to taxation whether it is received by a resident or non-resident entity. Residency is only relevant to determine if the entity is subject to WHT or not.