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Panama vs Thailand Tax Comparison
Side-by-side comparison of tax rates and systems
Tax Rate Comparison
Rate Comparison
Top Income Tax
Panama25%Lower
Thailand35%
Corporate Tax
Panama25%
Thailand20%Lower
Capital Gains
Panama10%Lower
Thailand35%
VAT / Sales Tax
Panama7%
Thailand7%
| Category | Panama | Thailand |
|---|---|---|
| Tax System | Territorial | Progressive |
| Top Income Tax | 25% | 35% |
| Corporate Tax | 25% | 20% |
| Capital Gains | 10% | 35% |
| VAT / Sales Tax | 7% | 7% |
| Crypto Tax | No | Yes |
| Wealth Tax | No | No |
| Tax Treaties | 18 | 61 |
| Currency | PAB | THB |
The bottom line: Panama vs Thailand
Panama has the lower headline rate on 2 of the four main taxes (income, corporate, capital gains and VAT), making it the lighter-taxed of the two on paper. Panama runs a territorial tax system, while Thailand uses a progressive one. On crypto, Panama is the more favourable — it does not tax cryptocurrency gains. Thailand has the wider tax-treaty network (61 agreements), which can reduce withholding tax on cross-border income.
- Income tax: Panama is lower (25% vs 35%)
- Corporate tax: Thailand is lower (25% vs 20%)
- Capital gains tax: Panama is lower (10% vs 35%)
- VAT / sales tax: identical in both (7%)