Characteristics of the electronic invoice in Panama

Panama began its electronic invoicing system (SFEP) in 2016. It comprised of various phases (design, construction, voluntary pilot project and Massification). 

The pilot project was launched with the publication of Resolution No 201-5784 by the tax authority (DGI). The resolution describes the technical characteristics of the electronic invoice and the names of the companies authorized to invoice electronically based on their turnover, volume, or industry. 

It is foreseen that in 2021 the mass voluntary adoption phase will begin. This phase will allow any company to voluntarily electronically invoice.

Tax Authority

Tax Authority

Ministerio de Economía y Finanzas – DGI (Dirección General de Ingresos).

Administrative procedures

Administrative procedures

It is necessary to have the taxpayer credentials used to Connect to the e-tax 2 platform. The affiliation process is done through the registration option on the DGI’s website in the “factura electrónica” section. 

Format

Format

Digitally signed XML according to Law 51, July 22, 2008 establishing the legal framework for the creation, use and archiving of electronic documents and digital signatures in the territory of the Republic of Panama. 

Digital Signature

Digital Signature

according to Law 51, July 22, 2008, articles 2 and 74 the qualified digital signature of the issuer guarantees the invoice’s legal validity. The signature must be backed by a qualified electronic certificate issued by a certification authority registered with the National Directorate for digital signatures in the Panamanian public registry. 

Fiscal Control

Fiscal Control

The CUFE code must be used by the taxpayer to uniquely identify an invoice, without having to use folios issued by the DGI.

Print format

Print format

The CAFE and a format for the printing on paper in letter size or on a paper tape, which must be legible for 6 months. 

Archiving

Archiving

Electronic invoices sent to the SFEP must be stored by issuers and recipients for the time prescribed by the law. 5 years for ITBMS or VAT. 

Do you need to know more about e-Invoicing in Panama?

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