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Panama Tax Information

7% ITBMS

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

Video Editor Services to Invoice

  • Video editing
  • Color grading
  • Motion graphics
  • Sound design
  • Subtitles/captions
  • Thumbnail creation
  • Format conversion

Invoice Requirements in Panama

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

Payment Terms

50% deposit, 50% on delivery. Rush fees for tight deadlines.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

Video Editor Invoice Tips

  • Specify video length
  • Include revision rounds
  • Note footage received
  • Document export formats
  • Reference project files

Frequently Asked Questions

What tax rate applies to video editor 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 video editors in Panama?

Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. 50% deposit, 50% on delivery. Rush fees for tight deadlines.

What should video editor invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For video editor services specifically, also include: Video editing, Color grading, Motion graphics.

How should video editors price their work?

Per project, per minute of finished video, or hourly. Consider complexity and turnaround time.

What should video editing invoices include?

Project name, video duration, services performed, revisions included, and delivery format.

What is Panama's ITBMS rate?

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