DGI prepares for January 2023 final rollout phase of electronic invoicing.
Since 2021, a pilot roll out is underway of mandatory e-invoicing for all new taxpayers on the Electronic Invoicing System SFEP (sistema de facturación electrónica de Panamá). Part of the aim of the pilot is to withdraw the use of fiscal cash registers.
The third round of rollout will commence from 2 January 2023, with financial services in January 2023. Panama’s system is built on the same processes as Mexico and Peru.
Check VAT Calc’s global live VAT invoice transaction and e-invoice reporting tracker to see where else real-time submissions of invoices is being implemented.
The Panama rollout was as follows:
- Jan 2022 all newly registered taxpayers must enter the SFEP regime
- Jul 2022 all B2G transactions must be via SFEP
- Jan 2023 any pilot-registered taxpayers must use SFEP for all transactions except exports or imports. This includes:
- Businesses quoted on public stock markets
- Hotels and hostels
- Real estate linked to the government
- Feb 2023 financial services (banks; funds; pensions; credit companies etc.)
Key features of Panama’s SFEP e-invoicing
- A free e-invoice creation services is available for taxpayers B 1million(approx €900k or $1million); or less than 200 transactions per month.
- Suppliers must seek permission from DGI to issue e-invoices instead of using fiscal devices, and be granted an electronic certificate issued by the National Directorate of Electronic Signature
- Invoices should be converted into XML for live transmission
- Like Mexico and Peru, an Authorised Qualified Provider (‘PAC’) e-invoice agent must be appointed, or the taxpayer may use the free online invoicing DGI portal, Facturador Gratuito
- Each invoice is give a Unique Electronic Invoice Code (CUFE) number
Central and South America e-invoicing
|Country||Date||Comments (click for details)|
|Argentina||2003||e-Factura Electronic Authorization Code system|
|Bolivia||Dec 2021||SFE Pre-clearance model|
|Brazil||2005||Nota Fiscal Electronic NF-e|
|Chile||2001||DTE tax invoice|
|Colombia||Nov 2020||e-invoice CUFE|
|Dominican Republic||2023||Mandatory e-invoicing phased introduction|
|Ecuador||2014||SFEP VAT e-invoicing|
|El Salvador||2022||Pre-clearance e-invoicing law passed|
|Mexico||2011||Pre-clearance e-invoice CFDI|
|Panama||2021||SFEP VAT e-invoicing with third-party agent required|
|Paraguay||2022||Marangatú, a pre-clearance e-invoice system started 1 Jan 2022|
|Peru||2010||Pre-clearance invoice; requirement for approved e-invoice agent|
|Uruguay||2019||CFE pre-clearnance e-invoicing|