ITBMS calculator for Panama
Add or remove Panama's ITBMS from any amount. The standard 7% rate is preselected; tap another rate if it applies.
Inputs
%
Result
Total including tax
107.00
- Net amount (excl. tax)
- 100.00
- ITBMS (7%)
- 7.00
Formula
Gross = Net × (1 + Rate ÷ 100)
Pro feature
| Rate | Applies to |
|---|---|
| 7% | Standard rate |
How to calculate ITBMS
Add ITBMS: total = net × 1.07
Remove ITBMS: net = total ÷ 1.07
Example at 7%: a net price of 100.00 has 7.00 of ITBMS, for a total of 107.00.
Rates reviewed in 2026-10. Tax rules change and some goods have special treatment — confirm with the official tax authority for invoices and filings.
Other countries
- Spain · 21%
- Mexico · 16%
- Argentina · 21%
- Uruguay · 22%
- Chile · 19%
- Colombia · 19%
- Peru · 18%
- Ecuador · 15%
- Bolivia · 13%
- Paraguay · 10%
- Costa Rica · 13%
- Guatemala · 12%
- El Salvador · 13%
- Honduras · 15%
- Nicaragua · 15%
- Panama · 7%
- Dominican Republic · 18%
- United Kingdom · 20%
- Germany · 19%
- France · 20%
- Italy · 22%
- Portugal · 23%
- Netherlands · 21%
- Ireland · 23%
- Australia · 10%
- New Zealand · 15%
- South Africa · 15%