Tax on the Transfer of Personal Property and the Provision of Services…
Tax on the Transfer of Personal Property and the
Provision of Services (ITBMS)
Purpose of the Tax
A Tax on the Transfer of Goods is established Corporales Furniture and the Provision of Services (ITBMS) that are carried out in the
Republic of Panama.
It will cause the tax, in the form in which it is determined in these
The transfer of personal property made by merchants,
producers or industrialists in the development of their activity, which implies or has as
purpose to transfer ownership of movable tangible property.
The provision of all kinds of services by merchants, producers, industrialists, professionals, lessors of goods and service providers in general, excluded
those of a personal nature that are provided in a dependency relationship.
They are taxpayers of this tax
The importer for his own account or for someone else.
Natural persons, companies with or without legal status that, in the
exercise of their activities, carry out the taxable events and act as transferors
of movable tangible property and / or as service providers
Tax Base and Rate
The tax base is
In the swap
In the dations in payment
In goods transfers
Exceptions and Other Provisions
They will not cause this tax
Transfers of negotiable documents and securities in general.
The payments and interests of the contributions to pension funds, unemployment funds,
mutual funds and other means of saving
Transfers in marriage agreements, contributions or division of assets
The expropriation, sales and provision of services made by the State, except those that carried out by the industrial and commercial companies of the latter.