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Panama Tax Information

7% ITBMS

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

Data Analyst Services to Invoice

  • Data analysis
  • Report creation
  • Dashboard development
  • Data visualization
  • SQL queries
  • Excel modeling
  • Insights presentation

Invoice Requirements in Panama

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

Payment Terms

Project-based for one-time analysis. Monthly retainer for ongoing reporting.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

Data Analyst Invoice Tips

  • Reference specific reports delivered
  • Include data sources analyzed
  • Document dashboard access provided
  • Note training included
  • Track recurring analysis

Frequently Asked Questions

What tax rate applies to data analyst 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 data analysts in Panama?

Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. Project-based for one-time analysis. Monthly retainer for ongoing reporting.

What should data analyst invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For data analyst services specifically, also include: Data analysis, Report creation, Dashboard development.

How should data analysts price their work?

Price based on complexity, data volume, and business value of insights. Project or hourly rates work well.

What deliverables should be listed?

Include reports, dashboards, presentations, and any documentation. Specify access and formats provided.

What is Panama's ITBMS rate?

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