Panama’s Ministry of Economy and Finance (MEF) projects annual revenue exceeding $100 million through the application of the ITBMS (Value Added Tax) to digital transactions. The new tax will encompass a range of online services, including subscriptions to content platforms and the purchase of software. Services like those offered through applications such as Airbnb will also be subject to the tax. Collection will likely occur via credit card processing. This measure aims to broaden Panama’s tax base and capture revenue from the growing digital economy. The government anticipates this will significantly contribute to public finances. Details on the exact implementation and timeline are yet to be fully disclosed.