Special Features: Import and Export Controls

The Tax Code regulates all matters concerning the country’s exports. The Code establishes that all national products may be exported, except:

• Drugs, with the exemption of those having pharmaceutical or scientific purposes.
• Staple products determined by the Government to be temporarily scarce in the country; and,
• Those products that the Panamanian Government decides not to export for reasons of convenience or the economic interest in the country.

Import Documentation

The processing of customs documents in Panama for imports is fast, efficient and reliable. A customs broker licensed by the Government of Panama must clear imported merchandise through customs. Exceptions are made for goods which are imported duty free, consigned to national or municipal governments, imported by foreign diplomats, sold to the authorities of the Canal Areas, sold to vessels transiting the Canal, or intended for re-export.

Basic Import Documentation required by the Panamanian Customs office

• Import Declaration (Prepared, and signed by a Customs Broker)
• Commercial Invoice (To be presented in English or Spanish in quadruplicate)
• Airway Bill
• Bill o Lading {To be presented in triplicate)
• Commercial License Number
• Phytosanitary Certificate (In case of meat products)
• Certificate of Free Sale (if required)

Any food product or other item used for human consumption (including for use on human skin or clothes) may be subject to the Certificate of Free Sale (CFS) documentation requirement. The main purpose of the CFS is to prevent the dumping of inferior goods, especially for human consumption, on the Panamanian market.

If for any reason the bill of lading or any other required document cannot be presented within 24 hours after the shipment has arrived, posting a bond equal to the amount of import duties will permit clearance of the goods. The bond is cancelled if the prescribed documents are presented in due form within a period of 90 days. The bond may be extended in justified cases, an additional 90 days.

Export Documentation

The Ministry of Commerce and Industry promotes exports and investment. It facilitates the processing of export documentation through a “One Stop” office, which can reduce the export process to a few hours.

Export Documentation Required by Panamanian Customs Authorities

• Commercial Invoice
• Export Declaration (usually prepared and signed by a Custom Broker)
• Certificate of Origin
• Bill of Lading
• Airway Bill
• Veterinary, Sanitary or Phytosanitary Certificate (when applicable)

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