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​Oracle NetSuite Tax Compliance for Panama


The LatamReady App extends the power of Oracle NetSuite Cloud ERP to enable international corporations to achieve full tax compliance in Latin America.

An innovative Built-for-NetSuite solution, the LatamReady App natively supports Tax & Accounting Compliance, Tax Reporting, Electronic Invoicing, and many more amazing features for 18+ Latin American countries, including Panama!​


About LatamReady




Electronic Invoicing Features for Panama


LatamReady SuiteApp
​Panama - Standard Edition


  1. 1.Local transaction types and information required to produce legal ledgers required by local Tax Agency
  2. 2.Withholdings calculation
  3. 3.E-Invoice


Send E-Invoices Directly from Inside NetSuite


LatamReady offers a complete solution within NetSuite for electronic documents in Panama.

The LatamReady App supports:

  • One by one:  A 2-step process that follows the NetSuite standard for issuing electronic invoices. The first step is to create and the second step is to generate and send each invoice one by one manually.
  • Massive: Several In Bulks, tens of thousands of documents. (Add-On)
  • In Bulk: for 200 documents. (Add-On)
  • Ecommerce Edition: for Ecommerce companies. (Add-On)

Easily manage E-invoices, Credit & Debit memos, Waybills, and more! With the LatamReady App, international corporations can issue E-invoices from inside of NetSuite and generate pixel-perfect electronic documents with a simple click of a button. LatamReady Localization allows you to issue electronic documents both locally and abroad.

Does your subsidiary issue hundreds or thousands of E-Documents? Ask for our advanced solutions for bulk processing E-Documents!

Electronic Payments
​​Features for Panama


LatamReady Supports Massive Bill Payments

Via NetSuite's Electronic Payments App, LatamReady enables companies to make massive electronic payments that follow the specific local formats required in Panama.

LatamReady supports massive bill payments for the following local banks:

  1. 1.Banistmo
  2. 2.ST. Georges Bank (SGB)
  3. 3.Banco General

LatamReady
​App Panama


The LatamReady App is always up to date with all monthly and annual tax reporting forms, making it easy for companies to comply with local tax reporting requirements in Panama.

LatamReady Add-Ons

Massive electronic invoicing module: Sending electronic documents by batch or in batches. (This also includes the automatic set and mailing to customers)

Automatic set: automatic Filling of the transaction fields to be processed in electronic invoicing based on the configuration in the customer file.

Sending emails to clients: the automatic sending of Emails to the clients once the electronic document is already authorized by the government.

Annual Legal Ledgers: The annual legal reports are a complete summary of the different parts of your accounting of operations for the year that need to achieve compliance with the fiscal entity of the country.

NetSuite Editions:
​OneWorld & Midmarket Edition / SuiteTax & Legacy


The LatamReady App is compatible with the NetSuite SuiteTax version and supports Legacy.

The LatamReady App fully supports all NetSuite's editions in Panama! Unlock opportunities for your growing company by extending the power of NetSuite with our innovative tax compliance solution.


Customer Care Support
​For Panama

Always Up to Date!

Our service includes unlimited legal updates for 18+ Latin American countries.

Tax rules in Panama are continuously changing and evolving.

LatamReady, combining local tax advisory in each country and the biggest NetSuite software factory in the region, will ensure that your subsidiary always remains compliant.

Included in your annual subscription is unlimited customer care support in 3 languages: English, Portuguese, and Spanish.

Additionally, LatamReady releases 2 official versions per year, always Built-For-NetSuite certified by Oracle.


LatamDojo
​E-Learning Platform

NetSuite Training on Demand

LatamDojo, our E-Learning Platform, includes thousands of training videos explaining how to be and remain compliant in Latin America with Oracle NetSuite and LatamReady!





Schedule a Call with
​a NetSuite Expert!


Chart of Accounts:

    1. a.Panama Government does not require the use of a Statutory Chart of Accounts
    2. b.If the Customer decides to use a Panama-specific COA (instead of the Corporate COA): LatamReady requires the use of NetSuite Multi-Booking feature

Legal ledgers:

    1. a.Most Latin American countries are in transition to exclusively require electronic versions of legal ledgers. In some countries, companies are still able to choose between the use of electronic or printed version of legal ledgers
    2. b.LatamReady legal ledgers are exclusively offered following the electronic version (fields, columns and order)
    3. c.Electronic version of legal ledgers can be downloaded in CSV format
    4. d.Printed version of legal ledgers are not included
    5. e.LatamReady includes “Accounting Book” filter in Legal Ledgers for Multi-Booking implementation.

Average Costing:

    1. a.In Latin America, the legally required type of costing is Average Costing
    2. b.Latin American subsidiaries configured in NetSuite are required to transact using Average Costing

Safe Harbor Statement

All forward-looking statements (future LatamReady App releases) are intended to outline our general product direction. They are intended for information purposes only and are not incorporated as part of our contracts. It is not a commitment to deliver any feature or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for LatamReady’s products remain at the sole discretion of LatamReady.

Panama Is Ready!
​Are You?