1. Invoices submitted by contractors must be original and must contain the following information:
2. Contractors or suppliers domiciled in the Republic of Panama must accompany their invoices with current and valid clearance certificates issued by the Ministry of Economics and Finance, (Internal Revenue Directory) as well as from the Social Security Institution. Invoices associated to contracts or purchase orders lesser or equal to $500.00 are exempt from this requirement. Causes for Returning Invoices An invoice is defective and shall be returned when:
Tax Exemption As stipulated in the Article 43 of the Panama Canal Authority Organic Law, all goods object of a contract, consigned to the Authority and identified as such on the contract as well as all services rendered to the Authority, are exempt from the payment of any national or municipal levy, tax, duty, fee, rate, charge, or contribution.
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