In international trade, not every shipment is final. Many times, companies need to send goods abroad for repair, maintenance, or processing, with the intention of re-importing them later.
In Panama, this procedure is regulated under the Temporary Export for Outward Processing regime, established in Chapter 522 of the Customs Regulations.
This regime is key to optimizing reverse logistics, reducing losses, and ensuring compliance with customs requirements.
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Panama offers a special regulation that provides incentives for retirees, pensioners, and rentiers—both local and foreign. Under Law 9 of June 24, 1987, they can access customs exemptions and tax benefits when importing goods, such as vehicles, as long as the established requirements are met.
In this article, we explain what the exemption of incentives is, what the requirements are, and which taxes apply.
This law allows retirees, pensioners, and rentiers residing abroad to import certain goods with tax benefits, as long as they complete the necessary procedures before the National Directorate of Migration and Naturalization and the National Customs Authority.
The process must be handled through a licensed attorney with power of attorney and requires both personal documents and proof of retirement, pension, income, or foreign residency.
The procedure is carried out with the support of an attorney and requires submitting documents to the National Directorate of Migration and the National Customs Authority. The main requirements include:
Although the law grants important benefits, certain mandatory payments are not exempt:
In the case of a vehicle sale or transfer, applicable taxes must be paid at the time of the transaction.
At Grupo Aduanero KAM, we provide full support for retirees and pensioners relocating to Panama who want to process vehicle tax exemptions. We ensure that every document and procedure is handled correctly and on time.
Our services include:
The exemption under Law 9 of 1987 is an excellent opportunity to reduce costs on imports, but the process can be complex if all requirements are not met.
Trust Grupo Aduanero KAM, your ally in customs and logistics services, to make your exemption procedures faster, safer, and simpler.Contact us today to get started!
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