02.23.23

Revised schedule for e-invoicing

Executive Decree No, 3, dated January 2023, has effectively amended Executive Decree No. 25, dated 27 June 2022.  

The amendment has introduced some significant modifications, in particular relating to the timeframe for e-invoicing timeline in Panama. In Panama, taxpayers can opt to use authorised fiscal equipment or process tax invoices through the national e-invoicing system, the Sistema de Facturacion Electronica de Panama (SFEP).  

The amendment confirms that the obligation to use e-invoicing is maintained from 2 January 2023 for the following entities:  

• Private entities authorized by the Panama Maritime Authority to guarantee compliance with construction, navigation, etc regulations; 

• Petroleum derivative cargo transportation services; 
• Hostels with less than 7 rooms; 
• Leasing real estate under notarized contracts or registered with the Ministry of Housing, by natural or legal persons that manage their own assets. 

However, the deadlines for the following entities have been extended: 

• 1 March 2023 for: 

• International public passenger transport services by land, air, or sea; and 
• National public transport services by air; 

• A phased approach starting from 30 April 2023, 30 June 2023, and 31 August 2023 for operations and services carried out by banks and other financial institutions, including financial leasing companies and investment funds, as well as banking credit, trust, or financial institutions governed by special laws, cooperatives, savings fund institutions, pension funds, retirement and social security funds, and savings and loan entities; and 
• 31 August 2023 for: 

• Operations carried out on the stock market; 
• Operations carried out by the Insurance sector; and 
• Operations carried out by other financial institutions not specified. 

The Ministry of Economy and Finance will separately regulate the phases and procedures for banks and other financial institutions. 

From 30 June 2023, invoicing obligations must also be met in respect of operations carried about by companies operating under the following regimes, which has been extended from 1 February 2023: 

• Baru Free Zone (Zona Franca del Barú); 
• City of Knowledge (Ciudad del Saber); 
• Free Zones (Zonas Francas); 

• Petroleum Free Zone (Zona Libre de Petróleo); 
• Multinational Enterprises Headquarters Regime (Sede Empresas Multinacionales – SEM); 
• Panama Pacifico Special Economic Zone (Área Económica Especial Panamá Pacifico – AEEPP); 
• Colon Free Zone (Zona Libre de Colón – ZLC); and 
• Multinational Company regime for the provision of services related to Manufacturing (Empresas Multinacionales para la prestación de servicios relacionados con la Manufactura – EMMA), which has been added to schedule. 

With respect to the SEM and EMMA regimes, invoicing through SFEP must be implemented considering that companies under these regimes are exempted from using authorised fiscal equipment. Invoicing requirements also apply for any other special zones or regimes that exist or may be created in the future. 

Please refer to the Resolution for further information: 

Gaceta Oficial Digital (mef.gob.pa)