Documents executed and subject to the laws of the Republic of Panama are subject to a stamp duty at a rate of US $ 0.10 for each US $ 100.00 of value. The stamps must be attached to the document at the time of execution.
The Stamp Tax will make cash by means of simple paper issued, affidavit or any other system or mechanism that in the opinion of the Ministry of Economy and Finance, through the Directorate General of Revenue complies with the requirements of tax inspection and collection.
All acts exceeding US $ 10.00 are taxed.
Any natural or legal person who is obliged to cover the Stamp Tax, will pay it monthly by means of a sworn statement.
There are previously established in the Law a series of acts that do not cause the stamp duty, among these are the acts or contracts that must be documented and that are the cause of the tax on transfer of movable property and provision of services. As an example, a construction contract would not have to pay the stamp duty, since it is the generator of the tax on the transfer of movable property and the provision of services.
Among other exemptions of importance of the tribute are: those that do not correspond to Panamanian source income, negotiable documents, purchase orders, samples, plane tickets,
The structure of the tax is modified by seeking greater flexibility, reducing application, reducing its application exclusively to all checks and other negotiable documents that have no other tax, which is administered through the banking and financial sector of our country. In addition, any document containing an act, contract or obligation for a sum greater than ten balboas that does not have special tax and see on subject or business subject to the jurisdiction of the Republic for each one hundred balboas or fraction of one hundred of value expressed in the document.