Electronic Invoicing

The State of Electronic Invoicing in Panama

Electronic Invoicing Panama

Panama began the implementation of electronic invoicing in 2016 with the establishment of the Panamanian Electronic Invoicing System (SFEP).

The SFEP implementation is composed of 4 phases: Design, Construction, Voluntary Pilot Plan, and Massification. Following the completion of the Pilot Plan, in which 43 companies participated, the Panamanian e-Invoicing system has entered the voluntary massification phase as of July 1, 2021.

The Panamanian Electronic Invoicing System (SFEP) is regulated by Executive Decree No. 367. The Decree lays out the legal requirements for adoption of electronic invoicing by companies exempted from the use of Fiscal Devices by the General Revenue Directorate (DGI), Panama's tax authority.

The technical specifications are set out in the Technical File, which defines formats, procedures and standards related to electronic invoicing.

In accordance with Law 256, published on November 26, 2021, it was established that as of January 1, 2023, all new RUCs (Taxpayer Identification Numbers - TINs) must use PAC e-Invoices for invoicing.

With the publication of Executive Decree Nº3 on January 23, 2023, the implementation and adoption of the Panama Electronic Invoicing System (SFEP) has been postponed for companies following new implementation dates.

  • Effective January 2, 2023:

- Private entities that have been authorized by the Autoridad Marítima de Panamá to enforce compliance with the rules of construction, navigation, pollution prevention and safety for merchant ships, passenger transport, leisure boats, scientific research vessels, oil exploration, and drilling vessels that are registered in the Marina Mercante de Panamá. 
- Cargo transportation services of petroleum products. 
- Inns and hotels that have less than seven rooms. 
- Property leasing activities under a contract that is notarized or registered with the Ministerio de Vivienda y Ordenamiento Territorial and is carried out by a natural or legal person who manages his or her property without the intervention of a third party.

  • Effective March 1, 2023:

- International public passenger transportation services by land, air or sea.
- Domestic public air-passenger transportation services.

  • Three phases have been established for services and operations carried out by banks and other financial entities (April 30, June 30 and August 31, 2023):

- Phase 1 (April 30): In this phase, banks and other financial institutions will be obligated to use the electronic invoicing system for all commissions of services provided, such as: Commissions and Surcharges (Savings Account Commissions, Surcharges for Savings accounts, Commissions for Loans, etc.)

- Phase 2 (June 30): In this phase, banks and other financial institutions will be obligated to use the electronic invoicing system for all commissions of services provided, such as: Interest earned on personal loans, mortgage loans, business loans, loans, lines of credit, overdrafts, etc.

- Phase 3 (August 31): In this phase, banks and other financial institutions will be obligated to use the electronic invoicing system for all commissions of services provided, such as: Investment Banks, Currency Exchanges, Fund Administrators (investment funds, savings, pension) Insurance and Reinsurance Companies, Credit Cards, ATM, etc.

  • Effective June 30, 2023:

- Operations and services performed by banks and other financial institutions, including leasing companies and investment funds.

Companies established in free or special zones, such as: 

          -    Zona Franca de Barú
          -    Zonas Francas
          -    Zona Libre de Petróleo
          -    Zona Libre de Colón (ZLC)
          -    Ciudad del Saber         
          -    Área Económica Panamá Pacífico (AEEPP)
          -    Sede de Empresas Multinacionales (SEM)*
          -    Multinational companies that are responsible for the provision of services related to manufacturing. (EMMA)*

*SEM companies that are incorporated under the EMMA regime must adopt the Panama Electronic Invoicing System according to the date established in the preceding calendar.

  • Effective August 31, 2023:

-  Activities carried out by the stock and commodities exchange authorized to operate in Panama.
-  Activities carried out in the Insurance sector.
-  Transactions carried out by any other financial entities not previously specified. 

EDICOM is an Authorized Certification Provider (PAC) in Panama.

EDICOM was accredited on November 14, 2022 as an Authorized Certification Provider (PAC) by the Dirección General de Ingresos de la República de Panamá (DGI). 

If you are interested in starting an electronic invoicing project in Panama, please request more information.

Only corporative domains allowed

EDICOM Group will use the personal data collected to answer questions/or manage the services requested. You may exercise your rights of access, rectification, opposition, restriction and portability of your data in accordance with the provisions in the Privacy Policy.

The name cannot be empty You must enter the company You must enter a phone number You must enter a description You must enter your position I agree to be contacted

The Panamanian Electronic Invoicing System (SFRP)

At the moment the SFEP coexists with the Fiscal Devices system, which was already in place for invoice emission. Fiscal Devices are electronic appliances authorized by the DGI for use in processing, recording, and storing tax receipts. These devices are connected to fiscal cash registers which record the total amount of taxes to be declared. They also connect to fiscal printers for receipt printing.

When mass adoption of electronic invoicing in complete, Fiscal Devices will be replaced by the SFEP.

Who Can Invoice Electronically?

Any individual or legal entity that requests approval from the General Revenue Directorate (DGI) to use electronic invoices to document transfers, sale of goods and provision of services.

Characteristics of the Electronic Invoice


XML electronic format according to the Technical File established by the DGI.

Tax Control

Each invoice must be identified with a Unique Electronic Invoice Code (CUFE).


Both inbound and outbound electronic invoices must be stored for 5 years, until the ITBMS or VAT contributions are fulfilled.

Electronic Signature

Issuers must apply a qualified electronic signature to the e-invoices, guaranteeing their legal validity by ensuring authenticity and non-repudiation.

Moving Toward Digital Transformation in Panama

By implementing electronic invoicing, the national government hopes to:

  • Boost the digital economy
  • Support innovation in business processes and increase competition in the private sector
  • Better facilitate tax compliance

The SFEP is part of the government's global strategy aiming to make Panama a worldwide logistics "hub".

The strategic location of the Republic of Panama, along with its attractive fiscal policies, have made it a focal point for international trade. It has become a preferred destination for multinationals to establish their Shared Service Centers.

Panama’s administrative digitization through electronic invoicing will give a great boost to its National Logistics Strategy 2030.

Do you want to learn more about Electronic Invoicing around the globe?

Our team of international consultants will be in touch within 24 hours to answer any questions you may have about your project.
Contact EDICOM Global

EDICOM News Global | Find out more about Electronic Invoicing

EDICOM PDP for Electronic Invoicing in France

EDICOM will become a PDP (Partenaire Dematerialisation Platform) to offer Electronic Invoicing services in France.

Saudi Arabia Makes Electronic Invoicing Mandatory: FATOORAH Project

The EDICOM e-Invoicing solution for the Kingdom of Saudi Arabia is ready for the integration phase with the ZATCA system

United States Electronic Invoicing Project: Digital Business Networks Alliance (DBNAlliance)

The DBNA will be responsible for defining policies, standards, and security mechanisms that make up the exchange framework