Import Electric Vehicles to Panama: Step-by-step guide

Electric mobility is growing rapidly in Panama, and more individuals and businesses are looking to import electric vehicles to reduce costs and contribute to environmental sustainability. Thanks to Law No. 295 of 2022, electric cars can access significant tax incentives, making the investment more attractive. Here’s everything you need to know.

Benefits of Importing Electric Vehicles

Electric vehicles offer key advantages:

• Reduction of CO₂ emissions and lower environmental impact.
• Savings on fuel by using electric energy.
• Access to tax incentives and exemptions.

Importing an electric vehicle can be a smart investment if you take advantage of the benefits provided by law.

Tax Incentives Under Law No. 295 of 2022

The law establishes clear incentives to promote electric mobility in Panama:

• Exemption from the Selective Consumption Tax (ISC): valid until December 31, 2030.
• Exemption from vehicle plate fees: for a period of five years for new electric vehicles.

Tip: Always consult with a licensed customs agent to confirm that your vehicle meets the requirements to qualify for these incentives.

Requirements to Import Electric Vehicles to Panama

To comply with regulations and benefit from tax incentives, you’ll need:

• Purchase invoice and certificate of origin.
• Import declaration filed with the National Customs Authority.
• Compliance with technical standards and approval by the Land Transit and Transportation Authority (ATTT).
• Processing through a licensed customs agent.

Logistics and International Transport

• Choose reliable international transport companies.
• Evaluate transport insurance to protect your vehicle during shipping.
• Check whether it’s more convenient to ship via container or Roll-on/Roll-off (RoRo) service.

A well-planned logistics process ensures your vehicle arrives safely and ready to benefit from tax incentives.

Additional Considerations

• Charging infrastructure: check the availability of charging stations in your area.
• Keep your documentation organized: this facilitates customs clearance and reduces the risk of penalties.

If you want to import electric vehicles to Panama and make the most of the tax incentives offered under Law 295 of 2022, contact us here for professional advice on customs and international logistics.