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Panama Tax Information

7% ITBMS

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

Wedding Planner Services to Invoice

  • Full planning
  • Partial planning
  • Day-of coordination
  • Vendor management
  • Budget management
  • Design consulting
  • Destination weddings

Invoice Requirements in Panama

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

Payment Terms

Deposit to book date, payments at milestones, balance before wedding.

Contado15 días30 díasCrédito

Payment Methods in Panama

Bank TransferBanco GeneralBanistmoCredit CardCash USD

Wedding Planner Invoice Tips

  • Reference wedding date
  • Include package details
  • Note payment milestones
  • Document vendor coordination
  • Specify travel costs

Frequently Asked Questions

What tax rate applies to wedding planner 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 wedding planners in Panama?

Common payment methods in Panama include: Bank Transfer, Banco General, Banistmo, Credit Card, Cash USD. Deposit to book date, payments at milestones, balance before wedding.

What should wedding planner invoices include in Panama?

Your invoice should include: RUC number, DGI registration, Client RUC, Invoice number. For wedding planner services specifically, also include: Full planning, Partial planning, Day-of coordination.

How should wedding planners price services?

Flat fee, percentage of budget (10-20%), or hourly. Package pricing is common.

What should wedding planning invoices include?

Package name, services included, payment schedule, and wedding date/venue.

What is Panama's ITBMS rate?

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