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Panama Tax Information

7% ITBMS

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

IT Consultant Services to Invoice

  • IT strategy
  • Tech assessment
  • Vendor selection
  • Digital transformation
  • IT audit
  • Process improvement
  • Project management

Invoice Requirements in Panama

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

Payment Terms

Project-based or retainer. Day rates for senior consultants.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

IT Consultant Invoice Tips

  • Reference deliverables
  • Include recommendations
  • Document assessments
  • Note plans
  • Track phases

Frequently Asked Questions

What tax rate applies to it 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 it consultants in Panama?

Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. Project-based or retainer. Day rates for senior consultants.

What should it consultant invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For it consultant services specifically, also include: IT strategy, Tech assessment, Vendor selection.

How to price IT consulting?

Day rates for senior, project-based for scope, retainer for advisory.

Bill travel separately?

Yes, pass through or include in day rate. State policy.

What is Panama's ITBMS rate?

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