Panama VAT
Panama introduced a Value Added Tax (VAT) in 1976. Locally, it is known as Impuesto a la transferencia de bienes corporales muebles y la prestación de servicios (ITBMS).
VAT in Panama is operated by the Finance Ministry.
Should you register for Panamanian VAT?
Businesses are required to register for VAT when providing the following taxable supplies:
- Importing goods into Panama
- Sales of goods domestically
- Supply of services
- Leasing of assets
Other resources
This guide covers the essential steps ecommerce sellers need to take now that the UK has left the EU Customs Union and VAT regime to keep their cross-border sales going, avoid extra tax costs and frustrated customers.
Read the report to learn about key industry trends, emerging issues, and challenges faced by cross-border sellers and shippers.
Manage international tax with cross-border solutions for VAT, HS code classification, trade restrictions, and more.
