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 Social Security Rate

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

Panama Social Security Rate
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.

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 [+]