Which has lower income tax, Georgia or Panama?

Georgia has the lower effective income tax on a $100k single-resident profile in 2026: Georgia ~22.0% vs Panama ~28.1% on the default schedule (before any special regimes).

What's the effective tax rate at $100k in Georgia vs Panama?

On the default progressive schedule, a $100k single resident pays an effective rate of ~22.0% in Georgia and ~28.1% in Panama for the 2026 tax year. Special regimes can lower these significantly.

How many days to become tax resident of Georgia vs Panama?

Georgia: 183+ days of physical presence. Panama: 183+ days of physical presence.

Does Georgia or Panama have a better special regime for expats?

Georgia has a dedicated ICP regime (Small Business Status (1% Turnover), 1%); Panama has none currently modeled, so the default schedule applies there.

Does Georgia or Panama tax foreign income?

Georgia uses a territorial system — only locally-sourced income is taxed. Panama uses a territorial system — only locally-sourced income is taxed.

Which currency does Georgia vs Panama use?

Georgia uses GEL (₾); Panama uses USD ($).

Home/Compare/Georgia vs Panama · $100,000#CMP-23986

ParametersFromGeorgia→ToPanamaGross$100,000FilingSinglePeriodFY 2026

Residency model

Edit parameters →

§ 01 · The verdict

Georgia leaves you with $6,100 more per year — a 8.5% net advantage over Panama on a $100,000 gross.

The gap is driven by the headline tax structure — no special regime applied. Both countries are indicated in USD at the displayed FX.

Net delta · annual

+$6,100

in favour of Georgia

Monthly

+$508

Over 5 yrs

+$30,500

Rate gap

6.1 pp

Confidence

High

GE·TbilisiGEL → USD @ 0.3704

Georgia

Standard tax (no special regime)

Effective tax rate

22.0%

on $100,000 gross

Net take-home

$78,000

$6,500 / month

Statutory deductionsUSD

Personal income tax progressive · top 20%	$20,000
Social security 2.0% employee · uncapped	$2,000
Total deductions	$22,000
Gross income	$100,000
Net take-home	$78,000

PA·Panama CityUSD · base currency

Panama

Standard tax (no special regime)

Effective tax rate

28.1%

on $100,000 gross

Net take-home

$71,900

$5,992 / month

Statutory deductionsUSD

Personal income tax progressive · top 25%	$18,350
Social security 9.8% employee · uncapped	$9,750
Total deductions	$28,100
Gross income	$100,000
Net take-home	$71,900

§ 02 · Where the paycheck goes

Flow of $100,000.

Width of each segment is its share of gross. NET segment is what crosses the finish line into the user's account.

Georgia22.0% effective

$0 → $100,000

PIT · $20,000

NET · $78,000

Panama28.1% effective

$0 → $100,000

PIT · $18,350

Social · $9,750

NET · $71,900

Income tax (PIT)Social chargeNet take-home

Δ net+$6,100·8.5% advantage GE

§ 03 · Full ledger

Line-item reconciliation.

All amounts USD · FY2026

Instrument	Georgia · USD	Panama · USD	Δ (PA − GE)
I. Personal income tax
Personal income tax GEprogressive · top 20%PAprogressive · top 25%	$20,000	$18,350	−$1,650
subtotal · personal income tax	$20,000	$18,350	−$1,650
II. Mandatory social security & health
2% mandatory pension (employee) + 2% employer matching. GE2.0% · uncappedPA—	$2,000	—	−$2,000
~9.75%. GE—PA9.8% · uncapped	—	$9,750	+$9,750
subtotal · mandatory social security & health	$2,000	$9,750	+$7,750
Total deductions	$22,000	$28,100	+$6,100
Effective rate	22.0%	28.1%	6.1 pp
Gross income	$100,000	$100,000	—
Net take-home	$78,000	$71,900	−$6,100
Table 1 · Statutory deductions, single-filer remote worker, FY2026 indicative. All amounts in USD. n/a where instrument does not apply.

§ 04 · Cost-of-living adjusted · secondary

And once the paycheck has to buy something.

We treat this section as secondary — the tax model is precise; the price model is a survey instrument with wider error bars.

PPP basis · NYC = 100	Georgia	Panama	Δ
Cost-of-living index Indicative · placeholder until COL table ships	35.0	50.0	+15.0 pts
Nominal net (annual) From the engine — exact	$78,000	$71,900	−$6,100
Real net · Panama basket	$111,429	$71,900	−$39,529

Real purchasing power · annual

Net take-home, re-expressed in Panama-basket dollars.

Georgia

$111,429

nominal $78,000

Panama

$71,900

nominal $71,900

Real delta · annual

+$39,529

a 55.0% advantage to Georgia once basket prices are normalised.

Indicative only — wider error bars than the tax model.

§ 05 · Methodology & sources

How this comparison was built.

Every line above can be traced to a primary instrument. We publish the model; you may toggle its parameters.

Read the full note ↗

Georgia · source instruments

Personal income tax code · brackets 2026
Social-insurance contribution schedule 2026
Small Business Status (1% Turnover) · Individual Entrepreneur registration; revenue ≤ GEL 500,000…

Panama · source instruments

Personal income tax code · brackets 2026
Social-insurance contribution schedule 2026
No special regimes recorded for this jurisdiction.

Model assumptions

01.Single filer, no dependents. Joint and head-of-household calculations not yet modeled.
02.Income treated as employment, not self-employed unless explicitly set.
03.Special regimes assumed eligible where the headline criteria fit; otherwise the standard schedule applies.
04.FX held constant at the displayed static rate across the period.
05.No equity, RSU, capital gains, or carried interest.
06.No treaty offsets applied — see HOME model for the US-resident case.
07.Filing status assumed Single. Joint and head-of-household calculations not yet modeled.
08.Tax year 2026 with 2025 transitional rates where applicable.

Last refreshed · Fri, 22 May 2026 15:50:32 GMT

Engine v0.1.0

Confidence · High (GE), High (PA)

Cite this comparison ↗

Disclaimer — Comparely publishes modelled estimates for informational purposes and does not constitute legal, tax, accounting, or immigration advice. Statutory rates, social-charge ceilings, FX, and elective regimes change. Eligibility for any special regime is subject to qualifying conditions beyond income alone. Consult a qualified adviser before acting on any figure displayed.

§ 06 · Related pairs

Other jurisdictions worth a glance.

4 pairs