It was published and confirmed by DGI Panama, the new mandate dates for the use of Electronic invoice system (SFEP) with the following phases:
- Phase 1 new date: April 30.
Banks and other financial institutions will implement the use of the electronic invoicing system for all commissions for the services provided, such as: Commissions and Surcharges (Savings Account Commissions, Surcharges for Savings accounts, Commissions for Loans, etc.)
- Phase 2 new date June 30.
Banks and other financial institutions will implement the use of the electronic billing system for all commissions for services provided, such as: Interest earned on personal loans, mortgage loans, commercial loans, loans lines of credit, overdrafts, etc.
- Phase 3 new date August 31.
Banks and other financial institutions will implement the use of the electronic invoicing system for all commissions for the services provided, such as: Investment Banking, Exchange Houses, Fund Managers (investment funds, savings, pension) Insurance and Reinsurance Companies, Credit Cards, ATMs, etc.
- As of June 30, 2023:
The operations and services in general carried out by banks and other financial institutions, including financial leasing companies and investment funds.
Companies established in free or special zones, such as:
- Baru Free Zone
- Free trade zone
- Oil Free Zone
- Colon Free Zone (ZLC)
- City of knowledge
- Panama Pacific Economic Area (AEEPP)
- Headquarters of Multinational Companies (SEM)*
- Multinational Companies for the provision of services related to Manufacturing.
- As of August 31, 2023:
Operations carried out by the stock market and products authorized to operate in Panama.
- Operations carried out by the Insurance sector.
- Operations carried out by other financial institutions not previously classified.
During the last few months, Origen’s electronic invoice experts’ team have been extended the use of electronic invoice for Country Panama in SAP Document and Reporting Compliance (aka eDocuments) implemented the solution in several Panama Companies using SAP.
For companies running SAP, Origen Technologies has developed a partner solution using SAP DRC electronic invoicing framework, that is capable to support Panama mandates.
For LATAM companies running SAP ECC or S/4HANA, Origen’s experience regarding SAP Document and Reporting Compliance offers a single SAP standard framework including e-invoicing and other electronic documents such as withholding certificate, delivery note, payment complement, etc.
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