Corporate Tax Comparison

Cyprus vs Panama

Compare Cyprus and Panama corporate tax rates, filing due dates, withholding tax, VAT, capital gains tax, and effective tax metrics for cross-border company planning.

Published — Cyprus: 2/14/2024 · Panama: 2/14/2024 · Time of Update — Cyprus: 9/27/2026 · Panama: 9/30/2026

Base Country/Region

Compare Country/Region

Compare Corporate Tax

Cyprus

Panama

Basic Corporate Tax Comparison

PwC World Tax Summary OECD Statistics

Published — Cyprus: 2/14/2024 · Panama: 2/14/2024 · Time of Update — Cyprus: 9/27/2026 · Panama: 9/30/2026

Corporate Income Tax (CIT)

Cyprus

Panama

General CIT Rate:

CIT Return Due Date:

From tax year 2026: 31 January of the second year after the tax year.

CIT Return Due Date:

Three months after the end of the fiscal year.

CIT Payment Due Date:

From tax year 2026, the balance is due by 31 January of the second year after the tax year.

CIT Payment Due Date:

Tax payments must be made within three months after the end of the respective accounting period.

CIT Estimated Payment Due Date:

Payment in installments of equal amounts on July 31 and December 31 of the relevant tax/calendar year.

CIT Estimated Payment Due Date:

6 months, 9 months, and 12 months after the end of the tax year.

Withholding Tax (WHT)

Cyprus

Panama

Resident Withholding Tax (Dividend/Interest/Royalty):

0/0/0

Resident Withholding Tax (Dividend/Interest/Royalty):

5, 10 - 20/NA/NA

Non-Resident Withholding Tax (Dividend/Interest/Royalty):

0/0/10

Non-Resident Withholding Tax (Dividend/Interest/Royalty):

5, 10 - 20/12.5/12.5

Value-Added Tax (VAT)

Cyprus

Panama

General VAT Rate:

Learn More Value-Added Tax (VAT)

Capital Gain Tax (CGT)

Cyprus

Panama

General Capital Gain Tax Rate:

10% on capital gains. Shares and securities: the buyer withholds 5% of the total value. Real estate: 2% transfer tax plus a 3% income-tax advance on the price or cadastral value, whichever is greater.

Effective Tax Rate (ETR)

Cyprus

Panama

Composite Effective Average Tax Rate:

11.4%

Composite Effective Average Tax Rate:

23.33%

Composite Effective Marginal Tax Rate:

5.92%

Composite Effective Marginal Tax Rate:

18.47%

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