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Panama Tax Information

7% ITBMS

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

Occupational Therapist Services to Invoice

  • OT evaluation
  • ADL training
  • Sensory integration
  • Fine motor skills
  • Home assessment
  • Ergonomic consult
  • Adaptive equipment

Invoice Requirements in Panama

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

Payment Terms

Payment at service. Insurance billed per guidelines. Equipment paid upfront.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

Occupational Therapist Invoice Tips

  • Detail activities
  • Include CPT codes
  • Note goals addressed
  • Reference authorization
  • Document home mods

Frequently Asked Questions

What tax rate applies to occupational therapist 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 occupational therapists in Panama?

Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. Payment at service. Insurance billed per guidelines. Equipment paid upfront.

What should occupational therapist invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For occupational therapist services specifically, also include: OT evaluation, ADL training, Sensory integration.

Billing for equipment?

Bill adaptive equipment separately from service. Require payment before ordering.

Home safety evals?

Flat fee for assessment and report. Bill travel if outside radius.

What is Panama's ITBMS rate?

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