SFEP 2026: the complete guide to electronic invoicing in Panamá

On January 1, 2026 Panama’s electronic invoicing obligation changed. DGI Resolution 201-6299 (published July 2025) restricted the state’s free issuing tool to very small businesses and forced everyone else to contract a PAC (Authorized Certification Provider). This guide explains, in plain English, what SFEP is, how it works and how to prepare your business.

What is SFEP?

The Panama Electronic Invoicing System (SFEP) is the legal and technical framework the DGI established so that fiscal documents (invoices, receipts, credit and debit notes, export documents) are issued electronically, digitally signed and validated in real time against DGI servers.

Every valid document receives a CUFE (Unique Electronic Invoice Code) of 40+ characters. Without a CUFE the invoice has no fiscal validity.

The rule from January 2026

Starting January 1, 2026, any taxpayer that exceeds B/.36,000 in annual revenue or that issues 100 or more invoices per month must operate through a PAC. If your business is below both thresholds you may continue using the DGI’s free facturador, but most formal businesses cross at least one.

This is not a punitive cap: the state cannot sustain the free service at the country’s real volume. The transition aims for a more robust infrastructure, not to slow business growth.

What does a PAC do?

A PAC performs four concrete jobs:

1. Transmits every electronic document to the DGI.
2. Waits for validation and, if it’s correct, receives the CUFE generated by the DGI.
3. Digitally signs the resulting XML.
4. Archives the document for at least 5 years.

FacturaHQ works with Alanube as an authorized PAC — one of the established regional providers, with local infrastructure in Panamá.

Types of electronic documents

SFEP covers five main document types:

• Electronic invoice (01) — business-to-business sales or sales with an identified recipient.
• Receipt (02) — end consumer.
• Credit note (03) — returns, discounts or downward adjustments.
• Debit note (04) — additional charges after the original invoice.
• Export document — sales outside Panamanian territory.

ITBMS and special rates

The Tax on Transfer of Goods and Services (ITBMS) is 7% general, with special rates of 10% (hotel lodging, alcoholic beverages) and 15% (tobacco). SFEP requires each invoice line to declare the correct applicable rate. A good invoicing system applies the rate per product automatically to avoid errors on the monthly return.

Contingency mode

The DGI allows a contingency mode of up to 72 consecutive hours in case of internet outages or DGI-side downtime. During that window documents are issued with a temporary code and transmitted once the connection returns. A serious PAC detects this mode automatically; requiring humans to reason about it is a recipe for mistakes.

Mandatory 5-year archive

Every electronic document must be preserved for 5 years with a verifiable timestamp. In practice this means the original XML, signed and sealed by the PAC, must remain available with its CUFE for that period — even if the software changes. Choose a provider that guarantees full archive export if you ever decide to migrate.

Qualified digital signature

To issue SFEP you need a qualified digital signature, issued by an authorized certifier in Panamá. The cost is about B/.50 one time, valid for several years. This step is unavoidable: no PAC can issue on your behalf without that certificate.

What to do now

1. Check whether you exceed either threshold.
2. Obtain your qualified digital signature.
3. Pick a PAC or a platform integrated with one (like FacturaHQ + Alanube).
4. Migrate your product and customer catalog before the fiscal year closes.
5. Train your team on issuing, voiding and credit notes.

SFEP is not an extra tax or a hurdle: it’s a change of format. Businesses that adopt it well gain fiscal visibility, instant audit and faster collection. Those that postpone expose themselves to rejections, penalties and rework.