Electronic billing increases taxpayers

The electronic billing This is already a consolidated fact in the country with the inclusion of the latest economic activities on August 31.

Its use not only improved the collection, but increased the base new colleagues.

The Electronic Billing Department at the General Administration of Revenue (DGI) reported that by the end of 2022, it could be identified 87% compliance among users who contribute and use this method.

On the other hand, from the total number of users of electronic accounts in 2022. 21% were new enrollees and this year until July 2023 it amounted to 22%.

Benito Quiroz, head of accounting in the K&B family officein simple terms, he said that electronic invoicing has ‘confused’ the entire tax system at the level of all companies.

“Ha simplified processes and united them in such a way that the invoice that arrives with the goods you requested, calculations and other procedures can be seen via phone, tablet or computer,” he said.

Likewise, he improved timely delivery of reports.‘

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Law number, passed in 2021, which regulates electronic invoicing in Panama.

“Previously, you had to wait until 15 days after closing issue a month and tell the cashier that I sold so much, when the cashier knew on the 30th how much you sold and how much you bought, through your RUC or Nick,” said the accountant.

Also, The pressure and volume of documents and paper has decreased which are processed in companies in the accounting department.

“Communication is digital, which made it simpler, because Before the invoices are even lost” he commented.

Quiroz, who has been with this company for four years wealth management companythey admitted that at first it was difficult for clients to adapt to the system, as with any change, but they developed it little by little, a process in which the billing culture acquired through the use of fiscal printers helped.

“The change or change came radically with the inclusion of a free account publisher without fiscal equipment, which is outdatedQuiroz said.

DGI stated that one of the main doubts about the system is related to whether everything will Taxpayers are obliged to use it.

“From January 2022, it becomes mandatory for all new single tax payer registrations, as it is the case from October 31 for all government suppliers and through the schedule Regulation no. 25 of 2022 and its amendmentssome previously exempted sectors have been scheduled,” the e-billing department reported.

These sectors were hostels with less than 7 rooms; national and international transportation of passengers by land, air or sea; the business and services in general which banks and other financial institutions lend; operations carried out by the stock exchange and authorized products; free zones, free zones and special regimes.

Lawyers and craftsmen

About lawyers, craftsmen and artists, liberal professions those who had their exception removed, which they protested, are still waiting for an appointment.

“It’s natural that changes create uncertainty, that’s why different approaches have been made to make it easier to get into the billing mode voluntarily“, DGI reported.