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Panama Tax Information

7% ITBMS

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

Videographer Services to Invoice

  • Video production
  • Event coverage
  • Corporate videos
  • Drone footage
  • Live streaming
  • Multi-camera setup
  • Same-day edits

Invoice Requirements in Panama

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

Payment Terms

50% deposit to book, 50% before delivery. Large projects use milestone payments.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

Videographer Invoice Tips

  • Specify shoot duration
  • Include equipment used
  • Detail crew costs
  • Note travel expenses
  • Reference licensing terms

Frequently Asked Questions

What tax rate applies to videographer 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 videographers in Panama?

Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. 50% deposit to book, 50% before delivery. Large projects use milestone payments.

What should videographer invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For videographer services specifically, also include: Video production, Event coverage, Corporate videos.

How should videographers price their work?

Day rate or project-based. Include filming, editing, and equipment. Consider complexity and deliverables.

Should videographers charge for equipment?

Include basic equipment in your rate. Specialized gear (drones, gimbals) can be billed separately.

What is Panama's ITBMS rate?

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