Belize vs Panama
Tax Rate Comparison
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๐ฐ Personal Income Tax Calculator
Enter your income to see your estimated annual tax liability in each country โ side by side.
๐ง๐ฟ Belize โ Municipal & Town Council Taxes
Belize's 6 districts and municipal/town councils levy property tax, business tax (turnover-based), and trade licences. Belize has a unique business tax system โ a turnover-based tax (1.75%โ19% of gross revenues by sector) instead of a traditional profit-based corporate income tax. Belize is a former British colony using English common law. It's a tourism-dependent economy with growing offshore financial services and a significant Belizean diaspora. The country has been working to exit grey lists and improve tax transparency.
๐ต๐ฆ 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%โ2.1%), 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.
Belize vs Panama: Key Tax Differences (2026)
๐ฐ Income Tax: Belize and Panama have similar top income tax rates (0โ25% vs 0โ25%).
๐ VAT/Sales Tax: Belize has a higher consumption tax (12.5% vs 7%).
๐ข Corporate Tax: ๐ง๐ฟ Belize offers a lower corporate rate (19% vs 25%), which can influence business location decisions.
๐ Capital Gains: ๐ง๐ฟ Belize taxes investment gains at a lower rate (0% vs 10%), benefiting investors.