cifraHQ Enterprise
Panama tax

ITBMS, withholdings and DGI, first-class in v1.

Country-agnostic tax engine with Panama as the v1 baseline module. ITBMS with banker's rounding, withholdings as a complete subsystem, certificates as documents, settlement workflow against DGI. No bolt-ons.

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ITBMS

The transfer tax, calculated correctly

  • Standard rate 7%. Seeded at Panama tenant provisioning, mapped to the ITBMS receivable / ITBMS payable account based on document direction.
  • Differentiated rates. 10% on alcohol and lodging, 15% on tobacco, 0% for exempt goods (basic-basket food, medicine, education, exports). Every product carries its tax code; the engine applies the correct rate without user decision.
  • Configurable taxable base. Three modes per rule: LineAmount, LineAmountPlusOtherTaxes (tax-on-tax), Custom. Panama uses LineAmount standard; the architecture supports other countries.
  • Banker's rounding at three levels. Rounding at component, line and document with reconciliation — prevents the cents that throw off ITBMS against the line total.
  • Full breakdown stored. Every line preserves the applied tax breakdown — rate, base, amount, tax code. Auditable without recalculation.
Withholdings

Complete subsystem, not a checkbox

Withholding is mandatory in Panama for certain payments (professional fees, services to non-residents, ITBMS on purchases from high-risk taxpayers). In many ERPs it's a loose field; in cifraHQ it's a subsystem with its own documents, dual GL paths and filing.

  • IsRetention + WithholdingRules. Rule table by payment type, rate, base and conditions. A rule can apply only to payments above a threshold or to specific vendor classes.
  • Profile classification. WithholdingClassification, IsWithholdingAgent and exemption certificate live on the party profile. The engine decides whether to withhold based on rule + classification cross.
  • Dual GL paths. Agent (who withholds) posts to withholdings payable; subject (from whom it's withheld) posts to withholdings receivable. Same engine, different interpretation per role.
  • RetentionCertificate as a document. The certificate you hand to the vendor (or the customer hands to you) is a document with number, date, Stimulsoft PDF and state. Not an Excel copy.
  • Retention-aware payments. Payment application treats withholding as a virtual payment — the invoice closes for the full amount even though cash received is less. No manual journals.
DGI compliance

The settlement workflow

  1. Period confirmation. The "Prepare Tax Filing" workflow opens against the period to declare. If the period is still open for posting, the system flags it — file only closed periods.
  2. Transaction review. Full listing of invoices, credit notes, withholdings and certificates for the period. Filters by type and taxpayer. Drill-down to source document in one click.
  3. Documented adjustments. If data needs adjusting (wrong classification, misapplied tax code), an adjustment is generated with reason. Everything lands in AuditEvents.
  4. Draft generation. TaxAuthorityFilings moves to Draft. Stimulsoft generates the PDF in official DGI format. You reconcile figure against GL on the reconciliation screen.
  5. Submission and payment. Submit marks as Submitted; DGI response marks Accepted or Rejected. Payment to the tax authority records against the obligation — closes the cycle.
  6. Immutable filing snapshot. Once Submitted, that filing's data snapshot is frozen. Any subsequent change to the period generates an Amended filing — it does not modify the original.
Integration with the rest

What this means for the full product

Reports

Stimulsoft for filings

DGI filing, withholding schedules, annual certificates, audit defense package. Official format with archival PDF.

Dashboards

Radzen for the tax workspace

Pending filings queue, GL-to-filing reconciliation, period tax-code mix, multi-period trend. The accountant never leaves the UI.

Architecture

Country-agnostic with plugin

The engine is country-neutral; <code>PanamaComplianceModule</code> implements <code>ICountryComplianceModule</code>. Mexico SAT/CFDI, Colombia DIAN and Costa Rica ship as additional modules (v1.5+).

E-invoice and signing

What ships in the box

  • IElectronicInvoiceSubmitter. Stable interface for the DGI electronic invoice integration. The Panamanian submitter ships as part of the module.
  • IDigitalSignatureProvider. Digital signature abstraction. The provider configured for Panama signs the documents that require signing before submit.
  • Credentials in TaxAuthorities. PAC credentials and signing certificates live in the elevated TaxAuthorities entity with at-rest encryption via Azure Key Vault.
  • Immutable tenant country. Country code is set at provisioning and cannot change — multi-country tenants are permanently unsupported in v1. One tenant per country; clean structure.

Panama tax demo with your scenario

Bring your ITBMS matrix, your withholding rules and a pending filing. We walk through it in a 45-minute session.

Schedule demo