Panama ITBMS calculator
Add or extract Panama 7% ITBMS in USD. $1,000 + 7% = $1,070 (ITBMS $70).
Inputs
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Panama ITBMS 7%
General rate 7% in USD. Not Costa Rica 13% or Honduras 15%.
Add or extract the tax.
- $1,000 + 7% = $1,070.
- Extract: ÷ 1.07.
- Educational estimate.
Frequently asked questions
What is the Panama ITBMS rate?
The general rate is 7%. At $1,000 net: ITBMS $70, total $1,070.
How do I extract ITBMS from a tax-inclusive price?
Divide by 1.07. $1,070 ÷ 1.07 = $1,000. Set includeTax=1.
Is it the same as Costa Rica VAT?
No. Panama uses 7% ITBMS in USD. Costa Rica and El Salvador use 13% VAT. Honduras 15%. Guatemala 12%.
Are there exemptions or 10%/15% rates?
Yes, some services use other rates. This tool uses only the general 7%. Confirm with DGI.
Is this tax advice?
No. It is an educational estimate.