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Panama Tax Information

7% ITBMS

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

Motion Designer Services to Invoice

  • Motion graphics
  • Explainer videos
  • Title sequences
  • Logo animation
  • Social media motion
  • UI animation
  • Kinetic typography

Invoice Requirements in Panama

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

Payment Terms

30% upfront, 40% at animatic, 30% on delivery.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

Motion Designer Invoice Tips

  • Specify duration
  • Include revisions
  • Note complexity
  • Reference storyboards
  • Document formats

Frequently Asked Questions

What tax rate applies to motion designer 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 motion designers in Panama?

Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. 30% upfront, 40% at animatic, 30% on delivery.

What should motion designer invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For motion designer services specifically, also include: Motion graphics, Explainer videos, Title sequences.

How to price motion design?

Per second, per project, or day rate. Factor in complexity.

Storyboard charges?

Include in project or bill separately. It's significant work.

What is Panama's ITBMS rate?

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