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Panama Tax Information

7% ITBMS

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

Product Manager Services to Invoice

  • Product strategy
  • Roadmap planning
  • User research
  • Prioritization
  • Sprint planning
  • Stakeholder management
  • Launch planning

Invoice Requirements in Panama

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

Payment Terms

Monthly retainer or project-based. Day rates for interim roles.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

Product Manager Invoice Tips

  • Reference deliverables
  • Include research
  • Document roadmaps
  • Note sprints
  • Track launches

Frequently Asked Questions

What tax rate applies to product manager 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 product managers in Panama?

Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. Monthly retainer or project-based. Day rates for interim roles.

What should product manager invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For product manager services specifically, also include: Product strategy, Roadmap planning, User research.

How to price PM services?

Retainer for ongoing, project for initiatives, day rate for interim.

What deliverables?

Roadmaps, PRDs, research reports, sprint plans, launch docs.

What is Panama's ITBMS rate?

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