Panama began the implementation of electronic invoicing in 2016 with the establishment of the Panamanian Electronic Invoicing System (SFEP).
The SFEP rollout was composed of 4 phases: Design, Construction, Voluntary Pilot Plan and Widespread Adoption. After the completion of the pilot project with 43 companies the Panamanian tax authority commenced its mass voluntary adoption phase on July 1st.
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.
Source Edicom
