Process of Paying Land Tax in Panama
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Process of Paying Land Tax in Panama
The following is the process that you need to follow to pay your land tax in Panama. This is a new tax that, albeit small, is now required of all owners of property in Panama. Thanks to Fred for providing his experience on how to pay this land tax.
First, you’ll need to go to the MEF building, or Ministerio de Economia y Finanzas (right behind the Alcaldia on Avenida Cuba) with your deed, go to the “Atencion a los Contribuyentes” line, an employee will tell you then how much you owe and will give you your RUC number. You then go to any Banco Nacional (no other banks will accept payment), fill out a “boleta multiple de pago de tributos” that they have there, and pay what you owe on the land tax.
The new tax land tax is 1% of the land value assigned to your apartment, in my case it was US$79 per year.
When you are at the MEF, you might also want to go to the 3rd floor (segundo piso aqui) and ask for a NIT number, which will allow you to access your account online and make payments in the future.
Kent Davis, founder of Panama Equity Real Estate, is a leading expert in Panama’s competitive real estate market. Originally from Honolulu, Hawaii, he holds a Marketing Information Systems degree from James Madison University. After a successful corporate career managing multimillion-dollar inventories at Hajoca Corporation, Kent pursued his dream of living abroad, moving to Panama in 2007.
Driven by an entrepreneurial spirit, he established Panama Equity to connect buyers, sellers, and investors with Panama’s top properties. Known for his transparency, expertise, and market insights, Kent has helped hundreds navigate Panama’s real estate landscape. Fluent in Spanish, he frequently publishes market reports to empower clients with informed decisions.
Beyond real estate, Kent is passionate about Panama’s culture, landscapes, and surf-friendly beaches. He lives in Panama with his wife and three sons, embracing the vibrant lifestyle the country offers.
