Freelancer Invoice Generator for Panama
Create professional freelancer invoices for clients in Panama. This free invoice generator combines freelancer-specific billing practices with Panama's tax requirements (7% ITBMS) and preferred payment methods like Bank Transfer and Banco General.
Free, no registration required. Your data stays in your browser.
Panama Tax Information
ITBMS is 7% (10% for alcohol/tobacco). No income tax on foreign income. RUC required.
Freelancer Services to Invoice
- Hourly consulting
- Project-based work
- Retainer agreements
- Milestone billing
- Rush/priority fees
Invoice Requirements in Panama
Payment Terms
Net 14 or Net 30 is standard. Consider 25-50% deposits for larger projects.
Payment Methods in Panama
Freelancer Invoice Tips
- Always use a unique invoice number
- Clearly state payment terms upfront
- Include detailed breakdown of work
- Add late payment fees
- Keep copies for tax purposes
Frequently Asked Questions
What tax rate applies to freelancer 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 freelancers in Panama?
Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. Net 14 or Net 30 is standard. Consider 25-50% deposits for larger projects.
What should freelancer invoices include in Panama?
Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For freelancer services specifically, also include: Hourly consulting, Project-based work, Retainer agreements.
How do I invoice for hourly freelance work?
List each task with hours worked and hourly rate. Include dates and detailed descriptions.
Should I charge a deposit as a freelancer?
Yes, especially for larger projects. A 25-50% deposit protects you from non-payment.
What is Panama's ITBMS rate?
Panama applies 7% ITBMS on most goods and services. Higher rates for alcohol, tobacco, hotels. Exports exempt.