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Panama Tax Information

7% ITBMS

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

Marketing Consultant Services to Invoice

  • Marketing strategy
  • Campaign planning
  • Brand positioning
  • Market research
  • Go-to-market strategy
  • Marketing audit
  • Performance analysis

Invoice Requirements in Panama

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

Payment Terms

Project-based with milestones. Retainer for ongoing advisory.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

Marketing Consultant Invoice Tips

  • Reference campaign names
  • Include deliverables
  • Note media spend separately
  • Document strategy sessions
  • Track metrics delivered

Frequently Asked Questions

What tax rate applies to marketing 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 marketing consultants in Panama?

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

What should marketing consultant invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For marketing consultant services specifically, also include: Marketing strategy, Campaign planning, Brand positioning.

How should marketing consultants price services?

Project-based for campaigns, retainer for ongoing advisory. Base on scope and expected ROI.

Should media spend be on the invoice?

Keep media spend separate from consulting fees. Either pass through or have client pay directly.

What is Panama's ITBMS rate?

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