Version 1.8.6 - Added Panama and updated Colombia

Today we released version 1.8.6 of VAT Calculator. In this new version we added Panama as requested by one of our users.

Panama flag

Currently Panama has the following VAT (ITBMS) rates:

• 7%, 10% and 15%

Colombia flag

We also updated Colombia, because the VAT rate is going to increase from 16% to 19%, starting 1st January 2017.