The corporate tax rate is 25%.
Corporate income tax is levied based on the territoriality principle.
For entities in which the State owns more than 40% of the shares the corporate income tax rate will be 30% (25% if it is a telecommunications company).
Companies with USD 1.5M or more income are also subject to an alternative minimum tax which amounts to 4.67% of gross taxable income.
Special preferential regimes
• Entities operating in Panama under the Multinational Companies Headquarters regime (In Spanish: el Régimen de Sede de Empresas Multinacionales or SEM) under Law No. 41 of 24 August 2007
• Panamanian trusts that are exempt from income tax under Section 35 of Law No. 1 of 1984.
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