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Panama Tax Information

7% ITBMS

ITBMS is 7% (10% for alcohol/tobacco). No income tax on foreign income. RUC required.

Caterer Services to Invoice

  • Event catering
  • Corporate catering
  • Wedding catering
  • Buffet service
  • Plated dinner
  • Cocktail reception
  • Food delivery

Invoice Requirements in Panama

RUC number
DGI registration
Client RUC
Invoice number
ITBMS (7%)
Total in PAB/USD

Payment Terms

Deposit to book, final payment based on final guest count 1-2 weeks before.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

Caterer Invoice Tips

  • Specify per-person pricing
  • Include menu details
  • Note rentals separately
  • Document staffing costs
  • Reference final guest count

Frequently Asked Questions

What tax rate applies to caterer invoices in Panama?

Panama has 7% ITBMS. ITBMS is 7% (10% for alcohol/tobacco). No income tax on foreign income. RUC required.

What payment methods are common for caterers in Panama?

Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. Deposit to book, final payment based on final guest count 1-2 weeks before.

What should caterer invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For caterer services specifically, also include: Event catering, Corporate catering, Wedding catering.

How should caterers price their services?

Per person for food, plus service fees, rentals, and staffing. Package pricing is common.

What about rental items?

List rentals (tables, linens, china) separately or include in per-person pricing.

What is Panama's ITBMS rate?

Panama applies 7% ITBMS on most goods and services. Higher rates for alcohol, tobacco, hotels. Exports exempt.