Guidance issued by Panama’s customs authority establishes rules for the concepts of customs transit, customs warehouse, and “special area-enabled” temporary customs warehouse regimes.
The guidance—Resolución Anticipada No. RA-014-DGT18 (27 June 2018)—was issued by the customs authority (Autoridad Nacional de Aduanas) to provide rules for unlimited, duty-free imports of raw materials, components, equipment and products into Panama when such imports generally are used in an “improvement” process involving the imported merchandise.
The customs transit regime therefore suspends customs tariffs and taxes on the imports provided that the eventual product has a destination that is outside of Panama. In general, this type of regime is a widely used customs procedure to facilitate the movement of goods between two points of a customs territory or between two or more different customs territories. The customs warehouse regime similarly suspends the imposition of customs duties and import taxes on the importation of merchandise in order to allow for the storage of the imported goods for as long as the goods remain in the warehouse and are not used domestically or abandoned.
Read a September 2018 report (Spanish) prepared by the KPMG member firm in Panama
For more information, contact a KPMG tax professional in Panama:
Guillermo Linares | (507) 208-0700 | firstname.lastname@example.org
Or to learn more about KPMG’s Trade & Customs Services, contact:
John L. McLoughlin
Luis (Lou) Abad
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