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Panama Tax Information

7% ITBMS

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

Creative Director Services to Invoice

  • Creative direction
  • Campaign strategy
  • Brand oversight
  • Team leadership
  • Concept development
  • Client presentations
  • Creative reviews

Invoice Requirements in Panama

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

Payment Terms

Retainer or project-based. Day rates for specific campaigns.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

Creative Director Invoice Tips

  • Reference projects
  • Include concepts
  • Note team management
  • Document presentations
  • Track campaigns

Frequently Asked Questions

What tax rate applies to creative director 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 creative directors in Panama?

Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. Retainer or project-based. Day rates for specific campaigns.

What should creative director invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For creative director services specifically, also include: Creative direction, Campaign strategy, Brand oversight.

How to price creative direction?

Retainer for ongoing, project for campaigns, day rate for shoots.

Team costs?

Bill separately or include in project scope. Clarify in contract.

What is Panama's ITBMS rate?

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