WorldTax Compareโ† All Comparisons

Bhutan vs Panama
Tax Rate Comparison

Enter your income below for a personal tax estimate, then scroll down for full rate breakdowns.

๐Ÿ‡ง๐Ÿ‡น Bhutan
vs
๐Ÿ‡ต๐Ÿ‡ฆ Panama
Tax Year:

๐Ÿ’ฐ Personal Income Tax Calculator

Enter your income to see your estimated annual tax liability in each country โ€” side by side.

Enter your annual income above to see your personal tax comparison โ†’
Individual Income Tax (Top Marginal Rate)
Top Income Tax Rate
0โ€“25%
25% top; crypto mining revenues adding to national income
No change
0โ€“25%
Territorial system; no plans to change
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
0%
No VAT; GST consideration ongoing
No change
7%
7% maintained
No change
Corporate Tax Rate
Corporate Tax Rate
30%
30% CIT; digital economy and hydropower growing
No change
25%
25% standard; Panama removed from grey lists
No change
Capital Gains Tax
Capital Gains Tax
0%
No CGT
No change
10%
10% CGT maintained
No change
Social Security & Payroll
Social Security / Payroll
~10%
NPPF; pension adequacy improving
No change
~22.1%
CSS pension reform implementation
No change
State, Regional & Local Taxes

๐Ÿ‡ง๐Ÿ‡น Bhutan โ€” Dzongkhag & Thromde Taxes

Bhutan's 20 dzongkhags (districts) and thromdes (municipalities) levy local land tax, cattle tax, and local fees. Bhutan is a constitutional monarchy pursuing Gross National Happiness over GDP. Corporate and business income taxes are primary revenue sources; personal income tax is minimal for most citizens given the country's structure. Bhutan has major hydropower export revenues from India and has become notable for state-enterprise cryptocurrency mining. The country is transitioning toward more market-oriented development with LDC graduation aspirations.

๐Ÿ‡ต๐Ÿ‡ฆ Panama โ€” Municipal & Corregimiento Taxes

Panama's 10 provinces and 81 districts have municipalities that levy commercial licence fees (Tasa Unica), property tax (impuesto de inmuebles at 0%โ€“2.1%), and service fees. Panama City has the highest commercial licence fees. Panama uses a territorial tax system โ€” income earned outside Panama is not taxed. This has made Panama a significant financial and trading hub. The Colรณn Free Zone is the world's second largest free trade zone. Panama is working to exit FATF grey lists and improve tax transparency.

โš ๏ธ Disclaimer: Rates shown are standard top/headline rates for informational purposes. Actual tax liability depends on income level, residency, deductions, and tax treaties. 2025โ€“2026 data reflects announced or enacted rates and may be subject to change. Not financial or legal advice.

Bhutan vs Panama: Key Tax Differences (2026)

๐Ÿ’ฐ Income Tax: Bhutan and Panama have similar top income tax rates (0โ€“25% vs 0โ€“25%).

๐Ÿ›’ VAT/Sales Tax: Panama has a higher consumption tax (0% vs 7%).

๐Ÿข Corporate Tax: ๐Ÿ‡ต๐Ÿ‡ฆ Panama offers a lower corporate rate (25% vs 30%), which can influence business location decisions.

๐Ÿ“ˆ Capital Gains: ๐Ÿ‡ง๐Ÿ‡น Bhutan taxes investment gains at a lower rate (0% vs 10%), benefiting investors.

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