Sending goods to Panama. ( Panama)

Taxes and import duties for shipping goods to Panama.

 
Overview

When shipping goods to Panama, the recipient is required to pay import duties, regardless of whether the goods are for personal or commercial use. 
The CIF (Cost, Insurance, and Freight) assessment method involves calculating duties and taxes on the full value of the imported goods, including the cost of the goods, insurance, and freight. In addition to duties, shipments to Panama are also subject to sales tax and consumption tax (IST).
 

Panama's customs duties and tax rates.

Sales tax in Panama.

Shipments to Panama are subject to Value Added Tax (ITBM Tax), levied at a standard rate of 7% on imported goods, but some items are subject to higher rates of 10% and 15%, calculated based on the CIF price plus duties.
 

Minimum duties and taxes in Panama.

 Panama levies minimum duties on the FOB price (meaning the value of the goods only). This means that shipments to Panama valued at USD 50 or less are exempt from duties. However, ITBM and IST duties will still be levied.

Other taxes and customs fees in Panama.

The Consumption Tax (IST) is levied on certain goods at a rate between 0% and 25%, calculated based on the CIF (Cost, Infrastructure, Fuel) price plus duties.
 

Location and contact information for the Customs Department of Panama.

Further information regarding import declaration procedures and restrictions on shipments to Panama can be found on the Panama Customs website:  https://customsdutyfree.com/panama
 

How to send goods to Panama.

For shipments to Panama, SME SHIPPING provides document and parcel delivery services via DHL EXPRESS, FEDEX EXPRESS, TNT EXPRESS, Global Mail, and international sea freight.