How to calculate taxes on foreign payments?
If for some reason the bank's rate on that day was higher than the Central Bank's rate (the rarest
case), the "service" received is also taxed. It is easier to follow this point than to deal with
additional calculations.
Can I transfer money in another currency?
Yes, most services allow you to transfer money in various currencies.
The exchange rate will be set by the service at the time of the transfer.
Are there limits on how much I can send from Panama to Mexico?
Yes, most providers have limits on international transfers from Panama to Mexico. These limits may depend on the provider, the amount, and your identification level. For example, larger transfers from Panama to Mexico may require identity verification or proof of source of funds.
Is it safe to send money from Panama to Mexico through online services?
Yes, it is generally safe to send money online from Panama to Mexico using trusted international platforms. Look for services with encryption, customer support, and regulatory licenses in both Panama and Mexico to ensure your transfer is secure.
