Bhutan 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.
๐ง๐น 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.
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.
Bhutan vs Panama: Key Tax Differences (2026)
๐ฐ Income Tax: Bhutan and Panama have similar top income tax rates (0โ25% vs 0โ25%).
๐ VAT/Sales Tax: Panama has a higher consumption tax (0% vs 7%).
๐ข Corporate Tax: ๐ต๐ฆ Panama offers a lower corporate rate (25% vs 30%), which can influence business location decisions.
๐ Capital Gains: ๐ง๐น Bhutan taxes investment gains at a lower rate (0% vs 10%), benefiting investors.