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Panama Tax Information

7% ITBMS

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

Fitness Consultant Services to Invoice

  • Program design
  • Facility management
  • Staff training
  • Equipment procurement
  • Safety audit
  • Member retention
  • Sales training

Invoice Requirements in Panama

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

Payment Terms

Project-based or monthly retainer. Equipment procurement paid upfront.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

Fitness Consultant Invoice Tips

  • Reference deliverables
  • Include timeline
  • Note staff trained
  • Document audit results
  • Track implementation

Frequently Asked Questions

What tax rate applies to fitness consultant 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 fitness consultants in Panama?

Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. Project-based or monthly retainer. Equipment procurement paid upfront.

What should fitness consultant invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For fitness consultant services specifically, also include: Program design, Facility management, Staff training.

How to price consulting?

Project fee for audits/launches. Retainer for ongoing management.

Bill for travel?

Yes, bill travel expenses for site visits. State 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.