WorldTax Compareโ† All Comparisons

India vs Panama
Tax Rate Comparison

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

๐Ÿ‡ฎ๐Ÿ‡ณ India
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€“30%
Zero tax slab expanded; new regime standard
No change
0โ€“25%
Territorial system; no plans to change
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
0โ€“28%
Further GST rationalization expected
No change
7%
7% maintained
No change
Corporate Tax Rate
Corporate Tax Rate
22โ€“25%
Pillar Two domestic rules being finalized
No change
25%
25% standard; Panama removed from grey lists
No change
Capital Gains Tax
Capital Gains Tax
12.5โ€“20%
12.5% LTCG equity; 20% property with indexation
No change
10%
10% CGT maintained
No change
Social Security & Payroll
Social Security / Payroll
24%
New social security code implementation ongoing
No change
~22.1%
CSS pension reform implementation
No change
State, Regional & Local Taxes

๐Ÿ‡ฎ๐Ÿ‡ณ India โ€” State, Professional & GST Variation

India's 28 states levy professional tax (up to โ‚น2,500/year), stamp duty on property (3%โ€“8%), and state excise on alcohol. GST has largely unified indirect taxes but petroleum products remain state-controlled. Property tax (nagar nigam) varies by city. Maharashtra, Karnataka, and Tamil Nadu have higher professional taxes.

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.

India vs Panama: Key Tax Differences (2026)

๐Ÿ’ฐ Income Tax: ๐Ÿ‡ฎ๐Ÿ‡ณ India has a higher top income tax rate (0โ€“30% vs 0โ€“25%). ๐Ÿ‡ต๐Ÿ‡ฆ Panama is more favourable for high earners.

๐Ÿ›’ VAT/Sales Tax: India has a higher consumption tax (0โ€“28% vs 7%).

๐Ÿข Corporate Tax: Corporate rates are similar in both countries (22โ€“25% vs 25%).

๐Ÿ“ˆ Capital Gains: ๐Ÿ‡ต๐Ÿ‡ฆ Panama taxes investment gains at a lower rate (10% vs 20%), benefiting investors.

Related Comparisons

๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ฆ๐Ÿ‡บ AustraliaTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡จ๐Ÿ‡ฆ CanadaTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡จ๐Ÿ‡ณ ChinaTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ฉ๐Ÿ‡ช GermanyTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ญ๐Ÿ‡ฐ Hong KongTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ฏ๐Ÿ‡ต JapanTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ณ๐Ÿ‡ฟ New ZealandTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ธ๐Ÿ‡ฌ SingaporeTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ฐ๐Ÿ‡ท South KoreaTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡น๐Ÿ‡ผ TaiwanTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ฌ๐Ÿ‡ง United KingdomTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡บ๐Ÿ‡ธ United StatesTax comparison