Executive Decree 766 on the adoption of electronic invoices

Executive Decree 766 was extended on December 29, 2020, and establishes the rules for the adoption of Electronic Invoicing for companies exempted from the use of fiscal equipment by the General Revenue Directorate (DGI).

This decree mandates the adoption of electronic invoices to all natural and legal persons that:

  • Requests its use to the General Directorate of Revenues.
  • Are exempted from the use of fiscal equipment.

According to the decree, the Auxiliary Electronic Invoice Voucher (CAFE) must contain a QR code allowing the verification of the electronic document in the DGI records. The verification must include the authorization protocol, issuance modality, date of authorization, amounts, among other elements.

Some responsibilities of users of Electronic Invoicing

  • Have an exception for the use of fiscal equipment.
  • Have an electronic certificate issued by a certification service provider registered in Panama’s National Directory of Electronic Signature of the Public Registry.
  • Be registered in the Panama Electronic Invoicing System before the DGI.
  • Contract the services of at least one qualified authorization provider to obtain the authorization to use of electronic documents.

According to Article 8 of this decree, it is the responsibility of the receiving user to verify that the Electronic Invoice is registered with the DGI. In case the invoice needs to be corrected, this must be done through the issuance of an Electronic Credit Note or Electronic Debit Note using the web service of the Panama Electronic Invoicing System.

Read more details about Executive Decree 766 here.

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Published December 31st, 2020, as Laws on Business by Johana Sum