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openaccountants/skills/panama-itbms.md
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1---
2name: panama-itbms
3description: Use this skill whenever asked to prepare, review, or create a Panama ITBMS (Impuesto de Transferencia de Bienes Muebles y Servicios) return for any client. Trigger on phrases like "prepare ITBMS return", "do the ITBMS", "Panama VAT", "Panama tax", or any request involving Panama consumption tax filing. Also trigger when classifying transactions for ITBMS purposes. This skill contains the complete Panama ITBMS classification rules, return form mappings, deductibility rules, and filing deadlines. ALWAYS read this skill before touching any ITBMS-related work.
4---
5 
6# Panama ITBMS Return Preparation Skill
7 
8---
9 
10## Skill Metadata
11 
12| Field | Value |
13|-------|-------|
14| Jurisdiction | Panama |
15| Jurisdiction Code | PA |
16| Primary Legislation | Codigo Fiscal de Panama (Fiscal Code), Title IX -- ITBMS (as amended by Ley 8 de 2010, Ley 49 de 2009) |
17| Supporting Legislation | Decreto Ejecutivo 84 de 2005 (Reglamento ITBMS); Resoluciones DGI |
18| Tax Authority | Direccion General de Ingresos (DGI) |
19| Filing Portal | https://dgi.mef.gob.pa (E-Tax 2.0) |
20| Contributor | Open Accounting Skills Registry |
21| Validated By | Deep research verification, April 2026 |
22| Validation Date | April 2026 |
23| Skill Version | 1.0 |
24| Confidence Coverage | Tier 1: rate classification, return form assignment, input tax recovery, derived calculations. Tier 2: partial exemption, SEM/free zone, Colon Free Zone treatments, territorial tax interaction. Tier 3: complex group structures, advance rulings, multinational structuring. |
25 
26---
27 
28## Confidence Tier Definitions
29 
30- **[T1] Tier 1 -- Deterministic.** Apply exactly as written.
31- **[T2] Tier 2 -- Reviewer Judgement Required.** Flag and present options.
32- **[T3] Tier 3 -- Out of Scope / Escalate.** Do not guess.
33 
34---
35 
36## Step 0: Client Onboarding Questions
37 
381. **Entity name and RUC (Registro Unico de Contribuyente)** [T1]
392. **ITBMS registration status** [T1] -- registered or not
403. **Filing period** [T1] -- monthly (standard)
414. **Industry/sector** [T2] -- impacts classification (Colon Free Zone, SEM, banking, tourism)
425. **Does the business make exempt supplies?** [T2] -- partial attribution
436. **Does the business import goods?** [T1]
447. **Is the business in a special economic zone (SEM, Colon Free Zone, Ciudad del Saber)?** [T2]
458. **Credit balance brought forward** [T1]
469. **Does the business earn foreign-source income?** [T2] -- Panama has territorial taxation
47 
48**If items 1-3 are unknown, STOP.**
49 
50---
51 
52## Step 1: ITBMS Rate Structure [T1]
53 
54**Legislation:** Fiscal Code, Article 1057-V.
55 
56### Standard Rate
57 
58| Rate | Application |
59|------|-------------|
60| 7% | Standard rate on taxable transfers of movable goods and services [T1] |
61 
62### Special Rates
63 
64| Rate | Application |
65|------|-------------|
66| 10% | Alcoholic beverages and hotel/short-term accommodation services [T1] |
67| 15% | Tobacco and tobacco-derived products [T1] |
68 
69### Exempt Goods and Services (No ITBMS) [T1]
70 
71**Legislation:** Fiscal Code, Articles 1057-V(5), 1057-V(6).
72 
73**Exempt goods:**
74- Unprocessed food (rice, beans, corn, fresh fruits, vegetables, fresh meats, fresh fish, eggs, milk)
75- Basic food basket (canasta basica familiar)
76- Medicines and pharmaceutical products (prescribed)
77- Agricultural inputs (fertilizers, seeds, pesticides)
78- Books, newspapers, educational materials
79- Fuel and petroleum derivatives (subject to specific fuel tax)
80- Machinery and equipment for agricultural use
81 
82**Exempt services:**
83- Financial services (interest, insurance premiums on life policies)
84- Medical and health services
85- Educational services (approved institutions)
86- Residential rental
87- Public transportation
88- Electricity (domestic, up to threshold)
89- Water (domestic supply)
90- Professional services of regulated professions (lawyers, doctors, engineers, architects, CPAs) -- NOTE: this is a significant difference from most countries [T1]
91 
92### Exports (0% -- Full Input Credit) [T1]
93- Export of goods: zero-rated with full input credit recovery
94- Export of services: services consumed outside Panama may qualify [T2]
95 
96---
97 
98## Step 2: Territorial Tax System -- Key Interaction [T2]
99 
100**Panama does NOT tax foreign-source income.** This has ITBMS implications:
101 
102- Services rendered entirely outside Panama to non-resident clients: NOT subject to ITBMS [T1]
103- Goods exported: zero-rated (input credit allowed) [T1]
104- Services rendered in Panama but paid from abroad: subject to ITBMS if consumed in Panama [T2]
105- Re-invoicing / intermediation services: complex -- flag for reviewer [T3]
106- Input ITBMS on costs related to non-taxable foreign operations: NOT recoverable unless attributable to taxable domestic operations [T2]
107 
108**Flag for reviewer: the interaction between territorial taxation and ITBMS recovery requires careful analysis of the source and place of consumption of each service.**
109 
110---
111 
112## Step 3: Transaction Classification Rules
113 
114### 3a. Determine Transaction Type [T1]
115- Sale/transfer (ITBMS causado -- output) or Purchase (ITBMS soportado -- input)
116- Salaries, CSS (social security), income tax, loan repayments, dividends = OUT OF SCOPE
117 
118### 3b. Determine Counterparty Location [T1]
119- Domestic (Panama)
120- Colon Free Zone / SEM / Special zones
121- International
122 
123### 3c. Determine ITBMS Rate [T1]
124- 0% (export), 7% (standard), 10% (alcohol/accommodation), 15% (tobacco), or exempt
125 
126### 3d. Determine Expense Category [T1]
127- Capital goods: equipment, machinery, vehicles
128- Inventory: goods for resale
129- Operating expenses: everything else
130 
131---
132 
133## Step 4: ITBMS Return Form Structure (Formulario 430) [T1]
134 
135**Filed monthly via E-Tax 2.0.**
136 
137### Section I -- ITBMS Causado (Output)
138 
139| Line | Description |
140|------|-------------|
141| 1 | Ventas gravadas al 7% (Taxable sales at 7%) |
142| 2 | ITBMS causado al 7% |
143| 3 | Ventas gravadas al 10% (Alcohol/accommodation) |
144| 4 | ITBMS causado al 10% |
145| 5 | Ventas gravadas al 15% (Tobacco) |
146| 6 | ITBMS causado al 15% |
147| 7 | Exportaciones (Exports -- 0%) |
148| 8 | Operaciones exentas (Exempt operations) |
149| 9 | ITBMS en importaciones (ITBMS on imports, self-assessed) |
150| 10 | Total ITBMS causado |
151 
152### Section II -- ITBMS Soportado (Input/Credit)
153 
154| Line | Description |
155|------|-------------|
156| 11 | ITBMS pagado en compras locales |
157| 12 | ITBMS pagado en importaciones |
158| 13 | Total ITBMS soportado |
159| 14 | Ajustes (blocked/apportioned) |
160| 15 | ITBMS soportado deducible |
161 
162### Section III -- Liquidacion
163 
164| Line | Description |
165|------|-------------|
166| 16 | ITBMS neto (Line 10 - Line 15) |
167| 17 | Saldo a favor anterior |
168| 18 | Retenciones |
169| 19 | Total a pagar / saldo a favor |
170 
171---
172 
173## Step 5: Reverse Charge on Imported Services [T1]
174 
175**Legislation:** Fiscal Code, Article 1057-V(2).
176 
177When a Panama registered person receives taxable services from a non-resident:
178 
1791. Self-assess ITBMS at 7% [T1]
1802. Report as output ITBMS (Line 9) [T1]
1813. Claim as input ITBMS (Line 13) if used for taxable operations [T1]
1824. Net effect: zero for fully taxable businesses [T1]
183 
184### Important Exception -- Professional Services [T1]
185- If the imported service falls within the regulated professions exemption (legal, medical, engineering, architecture, accounting), it is EXEMPT from ITBMS even when imported
186- Flag for reviewer: confirm whether the service type would be exempt domestically [T2]
187 
188---
189 
190## Step 6: Deductibility Check
191 
192### Blocked Input ITBMS (No Recovery) [T1]
193 
194**Legislation:** Fiscal Code, Article 1057-V(10).
195 
196- **Entertainment** -- meals, drinks, recreation (unless hospitality trade) [T1]
197- **Motor vehicles** -- passenger vehicles (exception: rental, taxi businesses) [T1]
198- **Personal use** -- not for business purposes [T1]
199- **Exempt operations** -- no input credit on costs for exempt supplies [T1]
200- **Non-taxable foreign operations** -- input ITBMS on costs attributable to foreign-source (non-ITBMS) operations is NOT recoverable [T2]
201 
202### Partial Exemption [T2]
203- Direct attribution first
204- Common costs: `Recovery % = (Taxable Revenue / Total Revenue) * 100`
205- Flag for reviewer: the territorial system adds complexity -- foreign-source revenue is neither taxable nor exempt for ITBMS purposes
206 
207---
208 
209## Step 7: Key Thresholds [T1]
210 
211| Threshold | Value |
212|-----------|-------|
213| Mandatory ITBMS registration | Annual taxable operations exceeding USD 36,000 [T1] |
214| Voluntary registration | Below USD 36,000 (may register voluntarily) |
215| Note: Panama uses USD as currency | No exchange rate issues for US-denominated transactions |
216 
217**Legislation:** Fiscal Code, Article 1057-V(3).
218 
219---
220 
221## Step 8: Filing Deadlines and Penalties [T1]
222 
223**Legislation:** Fiscal Code, Articles 1057-V(15), 710, 752.
224 
225### Filing Deadlines
226 
227| Period | Deadline |
228|--------|----------|
229| Monthly ITBMS return | 15th of the month following the period [T1] |
230 
231### Penalties
232 
233| Violation | Penalty |
234|-----------|---------|
235| Late filing | USD 100 to USD 5,000 depending on classification [T1] |
236| Late payment | Surcharge of 10% on unpaid tax + interest at market rate [T1] |
237| Failure to register | Back-assessment + penalties [T1] |
238| Fraudulent return | Criminal penalties; fines + imprisonment [T1] |
239| Failure to issue fiscal receipt | USD 1,000 to USD 5,000 per occurrence [T1] |
240 
241---
242 
243## Step 9: Fiscal Receipt / Electronic Invoicing [T1]
244 
245**Legislation:** Fiscal Code; DGI electronic invoicing regulations.
246 
247Panama has implemented electronic invoicing (Factura Electronica):
248 
2491. Equipment Fiscal (EF) machines were previously required -- now transitioning to electronic system
2502. All invoices must include: RUC, date, description, net amount, ITBMS, total
2513. Invoices must be authorized by DGI (pre-numbered or electronic)
2524. Input ITBMS is only deductible with valid fiscal receipts
253 
254---
255 
256## Step 10: Classification Matrix [T1]
257 
258### Domestic Purchases
259 
260| Category | ITBMS Rate | Input Credit | Notes |
261|----------|-----------|--------------|-------|
262| Office supplies | 7% | Yes | |
263| Commercial rent | 7% | Yes | |
264| Residential rent | Exempt | No | |
265| Electricity (commercial) | 7% | Yes | |
266| Telephone/internet | 7% | Yes | |
267| Motor car | 7% | BLOCKED | |
268| Entertainment | 7% | BLOCKED | |
269| Legal services | Exempt | No | Regulated profession |
270| Accounting/CPA services | Exempt | No | Regulated profession |
271| Architecture/engineering | Exempt | No | Regulated profession |
272| Insurance (general) | 7% | Yes | |
273| Insurance (life) | Exempt | No | |
274| Alcoholic beverages | 10% | BLOCKED (entertainment) | |
275| Hotel accommodation | 10% | Yes (if business travel) | |
276| Basic food items | Exempt | No | |
277| Medicines | Exempt | No | |
278 
279### Sales
280 
281| Category | ITBMS | Return Line |
282|----------|-------|-------------|
283| Domestic sale (standard) | 7% | Line 1, Line 2 |
284| Alcoholic beverage sales | 10% | Line 3, Line 4 |
285| Hotel accommodation sales | 10% | Line 3, Line 4 |
286| Tobacco sales | 15% | Line 5, Line 6 |
287| Export of goods | 0% | Line 7 |
288| Exempt supply | Exempt | Line 8 |
289 
290---
291 
292## Step 11: Special Economic Zones [T2]
293 
294### Colon Free Zone (Zona Libre de Colon) [T2]
295 
296**Legislation:** Decreto Ley 18 de 1948 (as amended).
297 
298- Largest free trade zone in the Western Hemisphere
299- Goods entering CFZ for re-export: exempt from ITBMS and customs duties
300- Goods sold from CFZ to Panama domestic market: subject to ITBMS at 7% as imports
301- Services within CFZ: generally subject to ITBMS unless specifically exempted
302- Flag for reviewer: CFZ transactions require careful documentation
303 
304### Special Economic Areas (SEM) [T2]
305 
306**Legislation:** Ley 32 de 2011 (SEM Law).
307 
308- Manufacturing, logistics, and service companies in SEMs may qualify for ITBMS exemptions
309- Exports from SEM: zero-rated
310- Purchases for SEM operations: may be exempt
311- Flag for reviewer: confirm SEM license and applicable benefits
312 
313### Ciudad del Saber (City of Knowledge) [T2]
314- Technology and innovation hub with special tax benefits
315- ITBMS treatment depends on specific agreement with government
316- Flag for reviewer
317 
318---
319 
320## PROHIBITIONS [T1]
321 
322- NEVER let AI guess ITBMS classification -- it is deterministic from facts
323- NEVER allow input credit on blocked categories (entertainment, motor vehicles, personal use)
324- NEVER apply ITBMS to exempt regulated professional services (legal, medical, engineering, architecture, CPA)
325- NEVER allow input credit on costs attributable to non-taxable foreign operations without reviewer confirmation
326- NEVER apply reverse charge to out-of-scope categories
327- NEVER confuse zero-rated exports (input credit allowed) with exempt (NO input credit)
328- NEVER ignore the USD 36,000 registration threshold
329- NEVER treat Colon Free Zone re-export transactions as domestic sales
330- NEVER compute any number -- all arithmetic is handled by the deterministic engine, not Claude
331 
332---
333 
334## Step 12: Edge Case Registry
335 
336### EC1 -- Professional services from non-resident [T2]
337**Situation:** Panama company hires a US law firm for legal advice.
338**Resolution:** Legal services are exempt from ITBMS (regulated profession). Even when imported, the exemption applies. No self-assessment required. However, flag for reviewer: confirm the service genuinely falls within the regulated profession exemption.
339 
340### EC2 -- Hotel accommodation for business travel [T1]
341**Situation:** Employee stays at a Panama hotel. Invoice shows 10% ITBMS.
342**Resolution:** ITBMS at 10% on accommodation is recoverable input tax if used for business purposes. Report on Line 13.
343 
344### EC3 -- Colon Free Zone sale to local market [T2]
345**Situation:** CFZ company sells electronics to a Panama City retailer.
346**Resolution:** Treated as an import. ITBMS at 7% applies on CIF value + duties. Buyer pays at customs. Flag for reviewer: confirm customs entry documentation.
347 
348### EC4 -- Credit notes [T1]
349**Situation:** Client issues credit note for returned goods.
350**Resolution:** Reduce output ITBMS. Report net figures. Issue proper fiscal credit note.
351 
352### EC5 -- Software subscription from US (non-professional service) [T1]
353**Situation:** Panama business subscribes to US cloud software (not a regulated profession service).
354**Resolution:** Reverse charge at 7%. Self-assess output ITBMS. Claim input if for taxable operations. Net = zero.
355 
356### EC6 -- Mixed domestic and foreign operations [T2]
357**Situation:** Company provides consulting to both Panama clients (taxable) and Colombia clients (not subject to ITBMS, territorial principle).
358**Resolution:** Apportion input ITBMS. Only input ITBMS attributable to taxable domestic operations is recoverable. Flag for reviewer: determine apportionment basis.
359 
360### EC7 -- Alcohol sold by restaurant [T1]
361**Situation:** Restaurant sells alcoholic beverages.
362**Resolution:** Alcoholic beverages are subject to 10% ITBMS (not 7%). Report separately on Line 3/Line 4. Food served by the restaurant is at 7%. Tobacco products are at 15% (Line 5/Line 6).
363 
364### EC8 -- Real estate sale (commercial) [T2]
365**Situation:** Company sells a commercial property.
366**Resolution:** Sale of new commercial real estate may be subject to ITBMS at 7%. Sale of used property may be exempt. Land component is generally exempt. Flag for reviewer: ITBMS on real estate is complex.
367**Legislation:** Fiscal Code, Article 1057-V.
368 
369### EC9 -- International business headquarters (SEM/MHQ) [T2]
370**Situation:** Multinational headquarters in Panama provides management services to affiliates.
371**Resolution:** Services to foreign affiliates may fall outside ITBMS scope (territorial principle -- services consumed abroad). Services to domestic affiliates: ITBMS at 7%. Flag for reviewer: confirm place of consumption and SEM/MHQ license.
372 
373### EC10 -- Construction on government contract [T2]
374**Situation:** Construction company works on government infrastructure project.
375**Resolution:** Construction services are taxable at 7%. Government entities may have specific ITBMS withholding obligations. Flag for reviewer: confirm government procurement ITBMS treatment.
376 
377---
378 
379## Step 12a: Sector-Specific Guidance [T2]
380 
381### Banking and Financial Services (Detailed)
382 
383**Legislation:** Fiscal Code; Banking Law.
384 
385Panama is a major international financial center:
386- **Interest on loans**: exempt [T1]
387- **Banking commissions and fees**: taxable at 7% [T1]
388- **Trust administration fees**: taxable at 7% [T1]
389- **Insurance premiums (life)**: exempt [T1]
390- **Insurance premiums (general)**: taxable at 7% [T1]
391- **Securities brokerage**: taxable at 7% [T1]
392- **International banking operations**: services consumed outside Panama are NOT subject to ITBMS (territorial principle) [T2]
393- Flag for reviewer: distinguish domestic vs. international financial services
394 
395### Maritime Sector
396 
397- **Ship registration fees**: exempt from ITBMS (government fee) [T1]
398- **Maritime services (domestic)**: taxable at 7% [T1]
399- **Canal-related services**: specific regime [T3]
400- **International shipping services**: NOT subject to ITBMS (consumed outside Panama) [T1]
401- **Ship repair and maintenance**: taxable at 7% if performed in Panama [T1]
402 
403### Tourism and Hospitality
404 
405- **Hotel accommodation**: taxable at 10% (special rate) [T1]
406- **Restaurant services**: taxable at 7% [T1]
407- **Tour operator services**: taxable at 7% [T1]
408- **Tourism incentive law**: approved tourism projects may have ITBMS exemptions on construction [T2]
409- Flag for reviewer: confirm tourism incentive applicability
410 
411### Construction and Real Estate
412 
413- **Construction services**: taxable at 7% [T1]
414- **Sale of new commercial real estate**: taxable at 7% on improvements [T2]
415- **Sale of residential real estate**: may be exempt (certain conditions) [T2]
416- **Land (bare)**: exempt [T1]
417- **Commercial rental**: taxable at 7% [T1]
418- **Residential rental**: exempt [T1]
419 
420### Professional Services (Regulated Professions) -- CRITICAL [T1]
421 
422**This is unique to Panama.** The following regulated professional services are EXEMPT from ITBMS:
423 
424| Profession | Exempt? |
425|-----------|---------|
426| Lawyers (Abogados) | YES -- exempt [T1] |
427| Doctors (Medicos) | YES -- exempt [T1] |
428| Engineers (Ingenieros) | YES -- exempt [T1] |
429| Architects (Arquitectos) | YES -- exempt [T1] |
430| Certified Public Accountants (CPA) | YES -- exempt [T1] |
431| Dentists (Odontologos) | YES -- exempt [T1] |
432| Psychologists | YES -- exempt [T1] |
433| Veterinarians | YES -- exempt [T1] |
434 
435**Non-regulated consulting services** (e.g., management consulting, IT consulting, marketing): taxable at 7% [T1].
436 
437This distinction is critical for input ITBMS recovery: costs attributable to providing exempt professional services do NOT generate recoverable input ITBMS.
438 
439---
440 
441## Step 12b: Books and Records [T1]
442 
443**Legislation:** Fiscal Code; Codigo de Comercio.
444 
445All ITBMS-registered persons must maintain:
446 
447- **Sales records**: invoices/receipts, fiscal machine records, export documentation
448- **Purchase records**: purchase invoices with ITBMS breakdowns
449- **Import records**: customs entries showing ITBMS paid
450- **ITBMS account**: summary ledger of output/input ITBMS
451- **Bank statements**: reconciled to business records
452- Records must be retained for a minimum of **5 years**
453- Records available for DGI inspection at the fiscal domicile
454 
455---
456 
457## Step 13: Reviewer Escalation Protocol
458 
459When a [T2] situation is identified, output:
460 
461```
462REVIEWER FLAG
463Tier: T2
464Transaction: [description]
465Issue: [what is ambiguous]
466Options: [list the possible treatments]
467Recommended: [which treatment is most likely correct and why]
468Action Required: Licensed CPA must confirm before filing.
469```
470 
471When a [T3] situation is identified, output:
472 
473```
474ESCALATION REQUIRED
475Tier: T3
476Transaction: [description]
477Issue: [what is outside skill scope]
478Action Required: Do not classify. Refer to licensed CPA. Document gap.
479```
480 
481---
482 
483## Step 14: Test Suite
484 
485### Test 1 -- Standard local purchase, 7%
486**Input:** Panama supplier, office equipment, gross USD 1,070, ITBMS USD 70, net USD 1,000. Valid fiscal receipt.
487**Expected output:** Line 11 = USD 70 input ITBMS. Full recovery.
488 
489### Test 2 -- Export, zero-rated
490**Input:** Registered exporter ships goods to Colombia, net USD 50,000.
491**Expected output:** Line 7 = USD 50,000. No output ITBMS. Input ITBMS fully recoverable.
492 
493### Test 3 -- Motor vehicle, blocked
494**Input:** Purchase of sedan USD 30,000, ITBMS USD 2,100.
495**Expected output:** ITBMS USD 2,100 BLOCKED. No input credit.
496 
497### Test 4 -- Legal services (exempt regulated profession)
498**Input:** Panama law firm provides legal advice USD 5,000. No ITBMS charged.
499**Expected output:** No ITBMS. Exempt regulated profession. No input/output entries.
500 
501### Test 5 -- Hotel accommodation sale at 10%
502**Input:** Hotel charges guest USD 2,200 (USD 2,000 + USD 200 ITBMS at 10%).
503**Expected output:** Line 3 = USD 2,000. Line 4 = USD 200.
504 
505### Test 6 -- Imported services (non-professional), reverse charge
506**Input:** US marketing firm provides services USD 10,000. No ITBMS.
507**Expected output:** Self-assess output ITBMS = USD 700 (7%). Input ITBMS = USD 700. Net = zero.
508 
509### Test 7 -- Alcohol sales at 10%
510**Input:** Liquor store sells beverages USD 5,500 (USD 5,000 + USD 500 ITBMS at 10%).
511**Expected output:** Line 3 = USD 5,000. Line 4 = USD 500.
512 
513### Test 8 -- Entertainment, blocked
514**Input:** Client dinner USD 535 inclusive of ITBMS USD 35.
515**Expected output:** ITBMS USD 35 BLOCKED. No input credit.
516 
517---
518 
519## Contribution Notes
520 
521**A skill may not be published without sign-off from a licensed practitioner in the relevant jurisdiction.**
522 
523 
524---
525 
526## Disclaimer
527 
528This skill and its outputs are provided for informational and computational purposes only and do not constitute tax, legal, or financial advice. Open Accountants and its contributors accept no liability for any errors, omissions, or outcomes arising from the use of this skill. All outputs must be reviewed and signed off by a qualified professional (such as a CPA, EA, tax attorney, or equivalent licensed practitioner in your jurisdiction) before filing or acting upon.
529 
530The most up-to-date, verified version of this skill is maintained at [openaccountants.com](https://openaccountants.com). Log in to access the latest version, request a professional review from a licensed accountant, and track updates as tax law changes.
531 

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About

Use this skill whenever asked to prepare, review, or create a Panama ITBMS (Impuesto de Transferencia de Bienes Muebles y Servicios) return for any client. Trigger on phrases like "prepare ITBMS return", "do the ITBMS", "Panama VAT", "Panama tax", or any request involving Panama consumption tax filing. Also trigger when classifying transactions for ITBMS purposes. This skill contains the complete Panama ITBMS classification rules, return form mappings, deductibility rules, and filing deadlines. ALWAYS read this skill before touching any ITBMS-related work.

PAty-2025

PA skill: