International parcel shipments Panama from Canada continue to grow as Canadian companies benefit from a free trade agreement. Also, much of trade from Canada to Panama has to do with Panama's unique access to global vessels. Canadians depend on low cost parcel shipping options to Panama.
The Canada–Panama Free Trade Agreement remains a key element of trade between Canada and Panama.
The agreement facilitates trade for goods traded between Panama and Canada.. Shipments to Panama include a broad range of Canadian products including aerospac and pharmaceuticals.
Panama is one of the top merchandise export markets in central America.
In shipping guide to Panama, we review the following things to know when shipping between Canada and Panama
Disclaimer: The information in this blog is for general information only .
Canada Post is the preferred choice for individuals shipping small packages and personal items Panama. Packages sent via Canada Post are imported toPanama and delivered by Panama Post Correos.
Canada Post Delivery Services toPanama Include:
FedEx and UPS are the largest carriers in North America and offer - along with DHL - dependable air express services from Toronto, Vancouver, Calgary, Montreal, Ottawa and all of Canada to Panama.
FedEx and UPS shipping options to Panama
Delivery to Panama via Purolator Courier
Purolator Courier, a subsidiary of Canada Post, offers international parcel delivery from Canada toPanama via partners, such as UPS. Purolator is a division of Canada Post.
The default option for shipping internationally from Canada is delivery duty unpaid. Common carriers use the term EXW which essentially assigns all import related costs (duty, taxes, and other fees) to the receiver/ importer. Shippers from Canada can choose to pay the import fees on behalf of the receiver via a Delivery Duty Paid (DDP) options that many carriers offer.
See our blog on IncoTerms and shipping terms for packages and online orders.
The disadvantage of paying import fees on behalf of the receiver is that the bulk of the import fees are often from a value added or other taxes that the importing business may otherwise be able to claim back.
Goods shipped to Panama must be accompanied by an invoice for customs or other supporting documents. Shippers should confirm the receiver / importer in Panama has the necessary approvals and processes in place prior to shipping.
The nature of the "free zone" is taxes. Dividends arising from external operations, or operations executed or consumed abroad, are tax free. There are no capital investment taxes. Municipal and local taxes do not apply to firms operating in the free zone, and there are no taxes on shipments to or from the free zone from or to anywhere in the world.
Panama assesses import duties on the declared CIF value as the basis for import duty calculations and, in some cases, utilizes historical price information as a reference.
Panama adheres to the WTO Customs Valuation Agreement. Verify you declared value for customs valuation.
Goods that qualify as Canadian origin as defined under the Canada–Panama Free Trade Agreement can clear duty free. The average duty rate for goods import to Panama is around 12% and is amongst the lowest in the region.
Duty Plus 7%:In addition to duty (and even if duty free) all imports into Panama are subject to a 7 percent transfer or value-added tax (ITBM) levied on the CIF value, plus import duty and other handling charges. Some items excluded from the ITBM tax include pharmaceuticals, food, and school supplies.
The common carrier shipping options from Panama to Canada include the Panama Post/ Correos (imported and delivered by Canada Post), DHL, FedEx and UPS.
FedEx and UPS Shipping Options from Panama to Canada Include:
Consignments imported from Panama to Canada are subject to duty and taxes. Most imports valued under CAD 20 can be cleared duty-free and tax-free. Shipments under CAD 3 300 can be imported under Courier Low-Value Shipment (CLVS) processes.
Consignments containing Panama origin goods may benefit from preferential duty free entry under the Canadian Panama free trade agreement.
Contact Jet’s logistics team to get an estimate of import fees.
Jet Worldwide gives access to all companies seeking shipping quotes between Panama (and all of South and Central America) and Canada for parcels pallets, and online orders.
Contact Jet's Team: For a quote for shipping online orders, provide details including shipping volume, item(s) being shipped, average value and weight of each parcel. The more details the better :).