Countries › Panama › Guide › 9. Trade and customs › Import tariffs and taxes in Panama: the national tariff, duty (DAI), 7 percent ITBMS, excise (ISC) and customs value

Import tariffs and taxes in Panama: the national tariff, duty (DAI), 7 percent ITBMS, excise (ISC) and customs value

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Last verified: 2026-10-29 · Status: Stable

Panama's Arancel Nacional de Importación, based on the Harmonized System and updated by ANA to the VII amendment in 2026, shows four rates for each tariff line: import duty (DAI), ITBMS, excise (ISC) and a fourth column labelled ICCDP. Many capital and technology goods enter at 0 percent duty, while sensitive farm goods such as pork, milk powder and corn carry 40 to 70 percent. Duties are levied on the customs value determined under the WTO valuation agreement, and exemptions require a law or treaty.

Panama's currency, the balboa (B/.), is at par with the US dollar, which circulates as legal tender; the Superintendencia de Bancos states that the balboa's value is on a par with the US dollar (checked 29 October 2026). USD figures therefore equal the balboa figures.

Key facts

Tariff nomenclature	Harmonized System, Arancel Nacional VII Enmienda (2026) textDecreto Ley 1 de 2008 art. 102; Arancel 2026, as of 2026-10-29 · in force
Import duty on portable computers (8471.30)	0 %Arancel 2026 line 8471.30, as of 2026-10-29 · in force
Import duty on cotton T-shirts (6109.10)	10 %Arancel 2026 line 6109.10, as of 2026-10-29 · in force
Import duty on fresh pork legs (0203.12)	70 %Arancel 2026 line 0203.12, as of 2026-10-29 · in force
Import duty on yellow corn (1005.90.20)	40 %Arancel 2026 line 1005.90.20, as of 2026-10-29 · in force
Import duty on fully electric passenger cars (8703.80)	0 %Arancel 2026 line 8703.80, as of 2026-10-29 · in force
ISC on cigarettes (2402.20)	100 %Arancel 2026 line 2402.20, as of 2026-10-29 · in force
Customs valuation method	WTO Valuation Agreement (Ley 23 de 1997) textDecreto Ley 1 de 2008 art. 109, as of 2026-10-29 · in force
ITBMS on imports (general rate)	7 %Código Fiscal art. 1057-V parágrafo 6, as of 2026-10-29 · in force
Exchange rate used for USD conversions	1 PAB per USDBalboa at par with the US dollar (Superintendencia de Bancos), as of 2026-10-29 · in force

The rule

1. Panama adopts its tariff nomenclature through the Arancel Nacional de Importación, structured on the Harmonized System. The tariff is mandatory and consists of the nomenclature, the applicable duties and the Explanatory Notes in their single Spanish version, which are the official text for interpreting classifications.Decreto Ley 1 de 2008, arts. 102 to 105, 2008-02-13 official text · verified 2026-10-29

2. Decreto de Gabinete 15 de 5 de abril de 2016 amended the national import tariff under article 5 of the protocol incorporating Panama into Central American economic integration; ANA publishes the consolidated tariff, currently the VII amendment updated to 2026, with columns for DAI (import duty), ITBMS, ISC and ICCDP for each ten digit line.Decreto de Gabinete 15 de 5 de abril de 2016; Arancel Nacional VII Enmienda actualizado al 2026 (ANA), tariff schedule, 2016-04-05 official text · verified 2026-10-29

3. The customs value of imported goods is the taxable base for duties and taxes, and is determined under the WTO Agreement on Implementation of Article VII of GATT 1994, part of Ley 23 de 1997, together with the instruments of the WTO Technical Committee on Customs Valuation.Decreto Ley 1 de 2008, arts. 108 and 109, 2008-02-13 official text · verified 2026-10-29

4. Exemptions from customs taxes can be granted only by law or an international agreement ratified by Panama; the Cabinet Council may establish general or special, total or partial reductions. Statutory exemptions include goods imported under ratified trade or integration agreements that expressly provide for it, imports by the State, diplomatic imports, and listed school, hospital and other goods; Ley 283 de 2021 added rowing boats used by recognized sports clubs.Decreto Ley 1 de 2008, arts. 79 and 81 (numeral 11 added by Ley 283 de 30 de diciembre de 2021), arts. 79 and 81, 2021-12-30 official text · verified 2026-10-29

5. ITBMS on imports is 7 percent generally, 10 percent on alcoholic beverages and 15 percent on tobacco products. Customs collects ITBMS and ISC together with customs duties.Código Fiscal art. 1057-V parágrafo 6 as worded by Ley 8 de 2010 art. 76; Decreto Ley 1 de 2008 art. 68 numeral 7, art. 1057-V parágrafo 6; DL 1 art. 68, 2010-03-15 official text · verified 2026-10-29

6. Examples from the 2026 tariff: portable computers (8471.30) and smartphones (8517.13) pay 0 percent duty and 7 percent ITBMS, with 5 percent ISC on laptops above B/.1,000 CIF per unit and on smartphones; cotton T-shirts (6109.10) pay 10 percent duty; passenger cars of 1,500 to 3,000 cc (8703.23) pay 0 percent duty but ISC of 15 to 25 percent by CIF value band; fully electric cars (8703.80) pay 0 percent duty and 0 percent ISC; malt beer pays 15 percent duty, 10 percent ITBMS and a specific ISC; cigarettes pay 15 percent duty, 15 percent ITBMS and 100 percent ISC; fresh pork legs pay 70 percent, milk powder lines 50 percent and yellow and white corn 40 percent duty.
Example: A car of 2,000 cc with a CIF value of B/.18,000 (line 8703.23.92): duty 0, ISC 18 percent, ITBMS 7 percent per the tariff. / A US$18,000 CIF car of 2,000 cc: no duty, 18 percent ISC and 7 percent ITBMS.Arancel Nacional VII Enmienda actualizado al 2026 (ANA), tariff lines 8471.30, 8517.13, 6109.10, 8703.23, 8703.80, 2203.00, 2402.20, 0203.12, 0402.10, 1005.90, 2026-07-20 official text · verified 2026-10-29

7. Rules of origin determine preferential treatment; ANA applies and verifies origin. Under trade agreements, the origin rules of each agreement apply. Goods originating in Panama must be visibly marked as a product of Panama.Decreto Ley 1 de 2008, arts. 106 and 107, 2008-02-13 official text · verified 2026-10-29

8. Goods made in a free zone with foreign inputs and imported into the national fiscal territory pay duties only on the value of the foreign raw materials and components incorporated, at the rate of the finished product, on an input and output sheet approved by ANA.Ley 32 de 5 de abril de 2011 (free zones), art. 36, 2011-04-05 official text · verified 2026-10-29

Tariff line	Goods	DAI	ITBMS	ISC
8471.30.10	Laptops, CIF up to B/.1,000 per unit	0%	7%	0%
8471.30.90	Laptops, other	0%	7%	5%
8517.13	Smartphones	0%	7%	5%
6109.10	Cotton T-shirts	10%	7%	0%
8703.23.91	Cars 1,500 to 3,000 cc, CIF up to B/.8,000	0%	7%	15%
8703.23.92	Same, CIF B/.8,000 to B/.20,000	0%	7%	18%
8703.23.93	Same, CIF B/.20,000 to B/.25,000	0%	7%	23%
8703.23.99	Same, other	0%	7%	25%
8703.80	Fully electric cars	0%	7%	0%
2203.00	Malt beer	15%	10%	Fx
2402.20	Cigarettes	15%	15%	100%
0203.12	Fresh pork legs and shoulders	70%	0%	0%
0402.10.9x	Milk powder, most lines	50%	0%	0%
1005.90.20	Yellow corn	40%	0%	0%
3004.90	Medicines	0%	0%	0%

Selected rates from the Arancel Nacional VII Enmienda updated to 2026 (ANA). DAI is import duty; Fx means a specific excise amount.

Worked example

An importer brings in cotton T-shirts with a customs value of B/.10,000 (US$10,000).
Import duty at 10 percent is B/.1,000 (US$1,000); ITBMS at 7 percent is charged on top at clearance, at least B/.700, and is creditable for an ITBMS registered business.
The same value of laptops under B/.1,000 each would pay no duty and only the 7 percent ITBMS.

Step by step

Find the ten digit line in the current ANA tariff (VII amendment updated to 2026) and read the DAI, ITBMS and ISC columns.
Check whether a trade agreement gives a lower preferential duty and obtain the proof of origin it requires.
Build the customs value on the transaction value with the adjustments of the WTO valuation agreement.
Where classification is uncertain, request an advance ruling from ANA before shipping (see Customs regimes and clearance).
Budget ITBMS and ISC as cash costs at clearance even if ITBMS is later credited.

Common traps

Several lines split by CIF value per unit (laptops, footwear, cars), so the declared value changes the rate.
Farm products listed as sensitive carry high duties and some lines are under tariff quotas.
A low duty does not mean a low landed cost: cars and smartphones carry ISC on top of ITBMS.
Tariff rates change by Cabinet decree; always use the latest consolidated ANA version.

Sources

Related: Panama country profile · live dashboard · central bank and release calendar · our posts on X · where Argentina is involved, see The Argentine Thread guide

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