On 21 December 2015, Panama's tax administration announced that the effective date of the new value added tax withholding requirements is postponed to 1 February 2016. The new requirements, which had already been postponed from 1 November 2015 to 1 January 2016, apply for taxpayers that have acquired goods or services of at least PAB 10 million in the previous year, and for credit and debit card companies ({News-2015-10-27/A/6- previous coverage}).