Panama Social Security Rate

The Social Security Rate in Panama stands at 22.25 percent. Social Security Rate in Panama averaged 22.87 percent from 2004 until 2018, reaching an all time high of 23.75 percent in 2006 and a record low of 20.75 percent in 2005.

Social Security Rate in Panama is expected to be 22.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Panama Social Security Rate is projected to trend around 22.25 percent in 2020, according to our econometric models.

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Panama Taxes	Last	Previous	Highest	Lowest	Unit
Corporate Tax Rate	25.00	25.00	37.00	25.00	percent	[+]
Personal Income Tax Rate	25.00	25.00	33.00	25.00	percent	[+]
Sales Tax Rate	7.00	7.00	7.00	5.00	percent	[+]
Social Security Rate	22.25	22.25	23.75	20.75	percent	[+]
Social Security Rate For Companies	12.50	12.50	14.50	12.25	percent	[+]
Social Security Rate For Employees	9.75	9.75	10.25	8.50	percent	[+]

In Panama, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Panama because they help to pay for many social programs including welfare, health care and many other benefits. This page provides - Panama Social Security Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Panama Social Security Rate - actual data, historical chart and calendar of releases - was last updated on September of 2019.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	22.25	22.25	23.75	20.75	2004 - 2018	percent	Yearly

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Country	Last		Previous	Range
France	59.20	Dec/18	59.2	59.2 : 51.22	%
China	48.00	Dec/18	48	48 : 48	%
Netherlands	47.45	Dec/19	46.65	53.05 : 46.12	%
Argentina	43.70	Dec/19	43.7	44 : 40	%
Brazil	39.80	Dec/19	39.8	42.8 : 31	%
Italy	39.49	Dec/19	39.49	45.9 : 39.49	%
Germany	39.06	Dec/19	40.21	42.53 : 33.35	%
Turkey	37.50	Dec/19	37.5	38.5 : 31.5	%
Singapore	37.00	Dec/19	37	37 : 33	%
Spain	36.25	Dec/19	36.25	39.44 : 36.2	%
Russia	30.00	Dec/19	30	35.6 : 26	%
Japan	29.20	Dec/18	29.2	29.6 : 18.39	%
United Kingdom	25.80	Dec/19	25.8	25.8 : 9	%
India	24.00	Dec/18	24	24 : 24	%
Saudi Arabia	22.00	Dec/19	22	22 : 20	%
South Korea	18.81	Dec/18	18.81	18.81 : 15.3	%
United States	15.30	Dec/18	15.3	16.75 : 15.3	%
Canada	14.09	Dec/19	13.81	14.95 : 7.9	%
Switzerland	12.00	Dec/19	12	18.1 : 12	%
Australia	11.50	Dec/19	11.5	11.5 : 10.5	%
Indonesia	9.74	Dec/18	9.74	15.74 : 9.74	%
Mexico	9.23	Dec/18	9.23	17.63 : 0	%
South Africa	2.00	Dec/19	2	3 : 2	%