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E-Invoicing in Panama

The introduction of electronic invoicing in Panama began 2016 with the introduction of the Sistema de Facturación Electrónica de Panama (SFEP). Since 2022 The transition to the mandatory use of electronic invoicing is gradual, with a clear focus on public institutions and certain sectors. Companies can either use the free platform or use an authorised provider, a Proveedor Autorizado Calificado (PAC)With this initiative, Panama aims to modernize the accounting process and promote tax transparency nationwide.

schedule

2016: Introduction of the SFEP (Sistema de Facturación Electrónica de Panamá) and start of the pilot phase.

2021: A voluntary introduction phase begins in which every company can start electronic invoicing on its own initiative.

2022: Obligation to use electronic invoices for suppliers to public administrations.

January 2023: All new tax identification numbers (RUCs) are required to use the PAC invoicing procedure or the SFEP. Introduction of e-invoicing obligation for oil product transport, certain hotels and guest houses.

March 2023: Compulsory e-invoicing for international public passenger transport and domestic public air and passenger transport.

April to August 2023: Gradual introduction of e-invoicing for banks and financial institutions, depending on the product group.

August 2023: Introduction of e-invoicing for taxpayers on the Panama Stock Exchange and in the insurance sector.

applicability

E-invoices primarily cover Business-to-Government (B2G) and Business to Business (B2B) transactions.

format

local XML-Format. 

Electronic signature

Electronic signatures are mandatoryIn addition, a electronic invoice code (Código Único de Factura Electrónica, CUFE) to be available.

Archiving

E-invoices must 5 years long be archived.

Further information

https://dgi.mef.gob.pa/_7FacturaElectronica/dgi2

e invoice 2

GOpus® eInvoice

Our GOpus® eInvoice The solution can be integrated into SAP ERP and SAP S/4HANA and supports the creation of outgoing e-invoices in all international country formats. In this way, all your invoice contents can be created and sent between different international invoice issuers and recipients directly from your SAP system and all invoice documents can be archived in comprehensive monitoring. Integration into the SAP modules SD, FI, IS-H, IS-U and SAP Service Invoicing is possible. Further integrations are available on request.

More information about GOpus® eInvoice, can be found here ->

Do you have further questions about our solution or would you like to obtain more detailed information about the e-invoicing regulations in Panama?

We will be happy to personally assist you with any further questions you may have about our solution and the regulations.

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