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10 July 2023

Panama Tax Authority provides process for deregistering certain 'fiscal equipment'

  • The Panama Tax Authority has established a process for users of fiscal equipment that have migrated to the Panamanian Electronic Invoicing System to report the deregistration of this equipment.
  • The new procedures became effective on 29 June 2023.

It is important to note that all users who have successfully migrated from using fiscal equipment (i.e., devices that collect tax data to submit to the Tax Authority) to the Panama Electronic Invoice System must deregister their fiscal equipment. It is imperative for taxpayers to request their fiscal equipment supplier to provide them with the fiscal equipment memory (fiscal memory), which should be retained for a minimum of five years in preparation for any audit by the Tax Authority.

To optimize the adoption of the Panamanian Electronic Invoicing System (SFEP is the Spanish acronym), the Tax Authority has established procedures, through Resolution No. 201-5617 of 15 June 2023, for fiscal-equipment users that have migrated to the SFEP to submit information to the Tax Authority declaring the "disincorporation" of this equipment as a consequence of their adoption of the SFEP. (In this context, disincorporation means disuse.)

Among the requirements established in the regulation, the following must be submitted:

  1. An explanatory memo of the request to deregister the tax equipment
  2. A copy of the first two pages and the last page of the Repair and Maintenance Control Book
  3. A copy of the latest Global Daily Report or Z-Report, generated as of the date of submission of the application
  4. The fiscal plate or tax stamp stamped on the Security Device
  5. Any other document that justifies the disuse

Once the evaluation has been concluded, the Tax Authority will issue a reasoned resolution, granting or denying authorization for the disincorporation of the tax equipment under evaluation.

If the request is granted, the characters that are part of the fiscal equipment registration number and the tax stamp must be provided.

This Resolution became effective as of its promulgation in the Official Gazette on 29 June 2023.

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For additional information with respect to this Alert, please contact the following:

Ernst & Young, Panamá

Published by NTD's Tax Technical Knowledge Services group; Carolyn Wright, legal editor

Document ID: 2023-1187

 

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