Panama - Ease of doing business

New business density (new registrations per 1,000 people ages 15-64)

New business density (new registrations per 1,000 people ages 15-64) in Panama was 4.22 as of 2020. Its highest value over the past 7 years was 12.23 in 2013, while its lowest value was 4.22 in 2020.

Definition: New businesses registered are the number of new limited liability corporations registered in the calendar year.

Source: World Bank's Entrepreneurship Survey and database (http://www.doingbusiness.org/data/exploretopics/entrepreneurship).

See also:

Year Value
2013 12.23
2014 11.72
2015 10.29
2016 8.79
2017 6.79
2018 5.69
2019 5.87
2020 4.22

Time to obtain an electrical connection (days)

Definition: The average wait, in days, experienced to obtain an electrical connection from the day an establishment applies for it to the day it receives the service.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2006 10.20
2010 1.80

Power outages in firms in a typical month (number)

Definition: Power outages are the average number of power outages that establishments experience in a typical month.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2006 3.10
2010 0.60

Firms experiencing electrical outages (% of firms)

Definition: Percent of firms experiencing electrical outages during the previous fiscal year.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2006 75.80
2010 21.60

Time required to get electricity (days)

The value for Time required to get electricity (days) in Panama was 35.00 as of 2019. As the graph below shows, over the past 10 years this indicator reached a maximum value of 35.00 in 2019 and a minimum value of 35.00 in 2009.

Definition: Time required to get electricity is the number of days to obtain a permanent electricity connection. The measure captures the median duration that the electricity utility and experts indicate is necessary in practice, rather than required by law, to complete a procedure.

Source: World Bank, Doing Business project (http://www.doingbusiness.org/).

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Year Value
2009 35.00
2010 35.00
2011 35.00
2012 35.00
2013 35.00
2014 35.00
2015 35.00
2016 35.00
2017 35.00
2018 35.00
2019 35.00

Firms that do not report all sales for tax purposes (% of firms)

Definition: Firms that do not report all sales for tax purposes are the percentage of firms that expressed that a typical firm reports less than 100 percent of sales for tax purposes; such firms are termed "informal firms."

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2006 54.16

Firms visited or required meetings with tax officials (% of firms)

Definition: Percent of firms that were visited or required to meet with tax officials.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2006 49.90
2010 37.60

Firms that spend on R&D (% of firms)

Definition: Percent of firms that spend on research and development.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2006 26.40
2010 7.40

Firms experiencing losses due to theft and vandalism (% of firms)

Definition: Percent of firms experiencing losses due to theft, robbery, vandalism or arson that occurred on the establishment's premises.

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2006 23.50
2010 6.50

Firms expected to give gifts in meetings with tax officials (% of firms)

Definition: Firms expected to give gifts in meetings with tax officials is the percentage of firms that answered positively to the question "was a gift or informal payment expected or requested during a meeting with tax officials?"

Source: World Bank, Enterprise Surveys (http://www.enterprisesurveys.org/).

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Year Value
2006 7.70
2010 6.40

Labor tax and contributions (% of commercial profits)

Labor tax and contributions (% of commercial profits) in Panama was 20.00 as of 2019. Its highest value over the past 14 years was 21.70 in 2011, while its lowest value was 19.80 in 2012.

Definition: Labor tax and contributions is the amount of taxes and mandatory contributions on labor paid by the business.

Source: World Bank, Doing Business project (http://www.doingbusiness.org/).

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Year Value
2005 20.70
2006 20.90
2007 21.70
2008 21.70
2009 21.70
2010 21.70
2011 21.70
2012 19.80
2013 19.80
2014 20.00
2015 20.00
2016 20.00
2017 20.00
2018 20.00
2019 20.00

Other taxes payable by businesses (% of commercial profits)

Other taxes payable by businesses (% of commercial profits) in Panama was 4.80 as of 2019. Its highest value over the past 14 years was 10.80 in 2007, while its lowest value was 4.80 in 2013.

Definition: Other taxes payable by businesses include the amounts paid for property taxes, turnover taxes, and other small taxes such as municipal fees and vehicle and fuel taxes.

Source: World Bank, Doing Business project (http://www.doingbusiness.org/).

See also:

Year Value
2005 10.80
2006 10.80
2007 10.80
2008 9.50
2009 9.50
2010 9.50
2011 9.40
2012 9.40
2013 4.80
2014 4.80
2015 4.80
2016 4.80
2017 4.80
2018 4.80
2019 4.80

Profit tax (% of commercial profits)

Profit tax (% of commercial profits) in Panama was 12.40 as of 2019. Its highest value over the past 14 years was 12.60 in 2009, while its lowest value was 11.40 in 2012.

Definition: Profit tax is the amount of taxes on profits paid by the business.

Source: World Bank, Doing Business project (http://www.doingbusiness.org/).

See also:

Year Value
2005 12.40
2006 12.50
2007 12.20
2008 12.60
2009 12.60
2010 12.50
2011 12.50
2012 11.40
2013 12.50
2014 12.40
2015 12.40
2016 12.40
2017 12.40
2018 12.40
2019 12.40

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Business environment