Fiscal Printer vs. Electronic Billing
Digital transformation has arrived in Panama, prompting us to consider whether to maintain traditional invoicing using fiscal equipment or migrate to electronic invoicing. We invite you to learn a little more about both processes:
Fiscal Printer vs. Electronic Billing
Traditional Billing
This billing model has been used for most of the time, maintaining the use of fiscal equipment and issuing a physical invoice.
Currently, the National Government, through Executive Decree No. 770 of December 30, 2020, established new regulations governing fiscal equipment, which involve the use of a communication device or data transmission component connected to PLACEF (Fiscal Equipment Communication Platform), developed by the General Revenue Directorate (DGI).
Electronic Billing
The electronic invoicing process in Panama has been stipulated by the DGI through Executive Decree No. 115, Article 2, Paragraph 2, which establishes that an electronic invoice is a legal document in XML format, whose function is to support operations involving transactions of goods or services.
In addition, it is important to mention that these electronic receipts can be issued through cloud-based invoicing systems, which securely store transaction data on special servers so that they are available to you whenever you want to consult them.
