PANAMA
LOCALIZATION
The Panama Localization product is designed to provide a set of configurations and processes developed in NetSuite, enabling companies across various industries to automate tax calculation processes for purchases and sales, electronic invoicing, and report generation and download. This ensures compatibility and compliance with the country’s tax requirements in a simple and efficient manner.
BENEFITS
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Unify e-commerce with your operational business systems on a single cloud-based platform.
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Sell across multiple brands, languages and currencies on the same eCommerce solution.
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Create relevant omnichannel experiences in-store, web and mobile.
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A platform compatible with consumers (B2C) and business buyers (B2B).
Certified SuiteApp Product
by Oracle NetSuite
Our product is fully developed in NetSuite, ensuring complete compatibility with NetSuite's advanced customization, automation, and reporting tools for seamless business operations and compliance.
It is officially certified by the Oracle | NetSuite team as a SuiteApp for the SuiteTax tax engine—a recognized technical certification that validates its construction, security, and operation in accordance with NetSuite's best development practices.
FEATURES
Tekiio's Panama Localization product enables NetSuite users to manage your mandatory tax and fiscal processes in the country through a set of adaptations to NetSuite standard processes that provide the following functionalities:
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Tax Management in Purchases and Sales
(0% / 7%)
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Withholding and National Tax Reports
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Diary Book
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Ledger
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Costs and Expenses Report (Annex 72)
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Sales Report (Annex 90)
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Exempt Income Report (Annex 93)
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Other Expenses Report (Annex 94)
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ITBMS presentation report
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Electronic invoicing of sales receipts.
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Automatic calculation of ITBMS Withholdings on Purchases.
ELECTRONIC BILLING
Sales module specialized in the electronic certification process of receipts through Electronic Billing enabled in Panama:
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Issuance of Electronic Receipts.
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Certification of Local Sales Receipts (Invoices, Credit Notes and Debit Notes).
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Certification of Export Sales Receipts.
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Certification of Electronic Receipts through the Electronic Billing provider: Hypernova (*).
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Batch or Mass-Automatic Receipt Certification Panel
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PDF Printing of Certified Sales Receipts.
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Sending certified receipts to clients by email.
