Article 1057-v: A Tax on the Transfer of Movable Personal Property and the Provision of Services (ITBMS) is established in the Republic of Panama.
Paragraph 1: It will cause the tax , in the way it is determined in these provisions: a. The transfer of tangible personal property carried out by merchants, producers or industrialists in the course of their activity, which implies or has as its purpose the transfer of ownership of tangible property.
1- The sale, exchange, dation in payment, contribution to companies, assignment r any other act, contract or convention that has the purpose expressed above.