DGI reports B/.66.3 million increase in ITBMS collection and encourages invoice requests

Panama's tax authority, the Dirección General de Impuestos (DGI), has reported a significant rise in tax revenue, specifically from the Transfer of Movable Goods and Services Tax (ITBMS). Preliminary data shows that by June 30, 2026, collections reached B/.563.4 million. This figure marks an increase of B/.66.3 million over the same period in 2025, reflecting a growth of approximately 13.3%.

The ITBMS is a crucial source of government income, with a general rate of 7% applied to taxable sales. The DGI attributes this favorable collection trend partly to increased citizen participation. The authority highlighted that millions of invoices were submitted in the initial draws of the Fiscal Lottery in 2026. In a subsequent regional event, one session alone saw 63,001 envelopes submitted, containing a total of 315,005 fiscal invoices.

This strategy directly connects a common consumer action, requesting an invoice, with tax compliance. When businesses correctly report the ITBMS collected from sales, these funds are transferred to the state. The revenue generated through tax collection is vital for financing public projects and services that contribute to the nation's development and the well-being of its population.

The DGI continues to promote this initiative through its Regional Fiscal Lottery, which rewards citizens who diligently request invoices from formal businesses. For upcoming draws, invoices issued between June 14 and August 14, 2026, are eligible for participation, further incentivizing the practice.