Bulgaria vs Panama
Corporate Tax Comparison
Time of Update: Bulgaria: 4/01/2026 / Panama: 4/04/2026
Compare Bulgaria and Panama corporate tax rates, filing due dates, withholding tax, VAT, capital gains tax, and effective tax metrics for cross-border company planning.
Bulgaria vs Panama Corporate Tax Comparison
Basic Corporate Tax Comparison
Corporate Income Tax (CIT)
Bulgaria
Panama
General CIT Rate:
10
General CIT Rate:
25
CIT Return Due Date:
March 1st to June 30th of the following year
CIT Return Due Date:
Three months after the end of the fiscal year.
CIT Payment Due Date:
June 30th of the following 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:
Monthly or quarterly installment payments.
CIT Estimated Payment Due Date:
6 months, 9 months, and 12 months after the end of the tax year.
Withholding Tax (WHT)
Bulgaria
Panama
Resident Withholding Tax (Dividend/Interest/Royalty):
0 / 10 / 10
Resident Withholding Tax (Dividend/Interest/Royalty):
5, 10 - 20/NA/NA
None-Resident Withholding Tax (Dividend/Interest/Royalty):
5/10/10
None-Resident Withholding Tax (Dividend/Interest/Royalty):
5, 10 - 20/12.5/12.5
Value-Added Tax (VAT)
Capital Gain Tax (CGT)
Bulgaria
Panama
General Capital Gain Tax Rate:
Capital gains are generally subject to tax at the standard corporate income tax rate (10%); however, capital gains from listed securities traded on regulated markets in the EU/EEA and on equivalent qualifying markets are generally exempt.
General Capital Gain Tax Rate:
Return on investment sees Panama Company tax summary.
Effective Tax Rate (ETR)
Bulgaria
Panama
Composite Effective Average Tax Rate:
9.2%
Composite Effective Average Tax Rate:
23.33%
Composite Effective Marginal Tax Rate:
10%
Composite Effective Marginal Tax Rate:
18.47%
