Panama is a country in Central America. It is bordered by Costa Rica to the west, Colombia (in South America) to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The capital and largest city is Panama City, whose metropolitan area is home to nearly half of the country’s 4 million people.
Capital: Panama City
Currency: Balboa, United States Dollar
Timezone: UTC-5
Corporate tax rate: 25% Territorial tax system. Only income derived from Panama is taxed.
Personal tax rate: 0-25% Territorial tax system. Only income derived from Panama is taxed.
Capital gains tax: 10%
VAT: 7%
Tax residence: 183 days rule: territorial income is taxed with some exceptions.
CFC Rules: No
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