Now that we have put our house up for sale, we have been pondering the question, “what should we bring with us to Panama”? We have communicated with people who have brought just about everything to those who went with only suitcases and started anew upon arrival. We know that we are allowed to bring $10,00o.oo worth of “stuff” tax free. For the most part, we will be “getting rid of” most of our furnishings and buying new in Panama and don’t intend on bringing either of our vehicles. However, we would love to bring our quads! Question here is, how will the government of Panama value these and for that matter, all possessions we bring to Panama? Do they take into account depreciation?… because in the big scheme of things, it does not take much to amass $10,000.00 worth of stuff …. and if we go over the $10,000.00, how much will we be taxed and at what rate? These are questions we have been having a hard time trying to find the answers to. A person takes such a loss when selling used goods, that it is hard for us to imagine that these items would be valued based on being “new”. So I am turning to you, my blogging community, for any advice or internet links that we can read which may help us to find the answers to these questions… and ultimately help us in making the decision of “what we should bring to Panama”?
May 11, 2013