With tax revenues of $4,738.5 million, a 14% year-over-year increase, driven by the dynamism of the payroll tax and capital gains, tax collection closed as of September 2025. The DGI highlighted that the result reflects a recovering economy and the strengthening of the tax culture.
Tax revenues grow 14% driven by higher direct tax contributions
Panama's tax revenues reached $4,738.5 million in September 2025, up 14% year-on-year. This growth is driven by successful payroll tax and capital gains tax collections. According to the General Tax Directorate, this indicates economic recovery and strengthening of tax discipline in the country.
