What are the Real Estate taxes in Panama?
All land and real estate improvements thereon located in Panama are subject to real estate taxes. Real Estate Properties with assessed official values of less than US$30,000.00 are exempt from taxes. Real estate taxes have priority over all encumbrances on the property. A tax clearance certificate must be obtained before any real estate transaction can be completed and will be required by the Panamanian Public Registry Office for any transaction regarding the property. See our Panama real estate listings. Panama Is Famous for Its Light Tax Burdens on Residents. Personal income tax in Panama is based on a sliding scale, ranging from a minimum of 7% after the first $9,000, to a maximum rate of 27%. Regardless of your residency status, the tax is only applied to Panamanian-sourced income. Taxable income includes wages and salaries, other business profits, pensions/bonuses, and income from copyrights, royalties, trademarks, stock sales, bonds, and securities. Deductions may be made on all
