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Panama Tax Information

7% ITBMS

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

Voice Over Artist Services to Invoice

  • Commercial VO
  • E-learning narration
  • Audiobook narration
  • IVR/phone systems
  • Video narration
  • Character voices
  • Podcast intros

Invoice Requirements in Panama

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

Payment Terms

Payment before delivery for new clients. Net 30 for established relationships.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

Voice Over Artist Invoice Tips

  • Specify word count or length
  • Include usage rights
  • Note pickup sessions
  • Reference script approval
  • Document delivery format

Frequently Asked Questions

What tax rate applies to voice over artist 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 voice over artists in Panama?

Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. Payment before delivery for new clients. Net 30 for established relationships.

What should voice over artist invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For voice over artist services specifically, also include: Commercial VO, E-learning narration, Audiobook narration.

How should voice over artists price their work?

Based on word count, finished minutes, or usage. Consider broadcast vs. non-broadcast rates.

What usage rights should be specified?

Define medium (TV, radio, web), duration, and geographic scope. This affects pricing significantly.

What is Panama's ITBMS rate?

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