The Social Security Rate For Companies in Panama stands at 12.50 percent. source: Ministry of Labour and Social Security

Social Security Rate For Companies in Panama averaged 13.32 percent from 2004 until 2018, reaching an all time high of 14.50 percent in 2006 and a record low of 12.25 percent in 2005. This page provides - Panama Social Security Rate For Companies - actual values, historical data, forecast, chart, statistics, economic calendar and news. Panama Social Security Rate For Companies - values, historical data and charts - was last updated on June of 2021.

Social Security Rate For Companies in Panama is expected to reach 12.50 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Panama Social Security Rate For Companies is projected to trend around 12.50 percent in 2021, according to our econometric models.

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Panama Social Security Rate For Companies

Actual Previous Highest Lowest Dates Unit Frequency
12.50 12.50 14.50 12.25 2004 - 2020 percent Yearly

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 [+]


Panama Social Security Rate For Companies
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.