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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 Scientist Services to Invoice

  • Data analysis
  • Predictive modeling
  • Machine learning
  • Statistical analysis
  • Data visualization
  • A/B testing
  • Research

Invoice Requirements in Panama

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

Payment Terms

Project-based for analysis. Retainer for ongoing data support.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

Data Scientist Invoice Tips

  • Reference datasets
  • Include models
  • Document methodology
  • Note tools used
  • Track accuracy

Frequently Asked Questions

What tax rate applies to data scientist 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 scientists in Panama?

Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. Project-based for analysis. Retainer for ongoing data support.

What should data scientist invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For data scientist services specifically, also include: Data analysis, Predictive modeling, Machine learning.

How to price data science?

Project-based for specific analysis, retainer for ongoing, value-based for high-impact.

Include compute costs?

List separately from service fees. Document resource usage.

What is Panama's ITBMS rate?

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