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Panama Tax Information

7% ITBMS

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

Colorist Services to Invoice

  • Color grading
  • Color correction
  • HDR grading
  • Look development
  • Dailies
  • Conforming
  • Delivery specs

Invoice Requirements in Panama

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

Payment Terms

Day rate or per-minute. Features often flat fee.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

Colorist Invoice Tips

  • Specify runtime
  • Include look development
  • Note deliverables
  • Reference specs
  • Document sessions

Frequently Asked Questions

What tax rate applies to colorist 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 colorists in Panama?

Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. Day rate or per-minute. Features often flat fee.

What should colorist invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For colorist services specifically, also include: Color grading, Color correction, HDR grading.

How to price color work?

Day rate for sessions, per-minute for content, project for features.

Look development?

Bill separately or include. It's creative work beyond correction.

What is Panama's ITBMS rate?

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