Icelandic VAT rates and compliance

Icelandic VAT rates

There are two VAT rates, plus a nil rating:

The current rates are:

Icelandic VAT compliance

As a tax payer, VAT registered business must comply with the rules and record keeping requirements of the VAT Act. This includes invoice format and records. VAT invoices and records must be stored for at least seven years.

Time of supply

Icelandic VAT rates and compliance - Avalara

VAT on goods is due – the time of supply – the earlier of delivery, invoice or cash advance payment. For services, it is the time of supply or invoice date if only a short period after the supply.

Import VAT is due at the time of goods clearance into Iceland.

Click for free Icelantic VAT info

Need help with your UK VAT compliance?

Researching U.K. VAT legislation is the first step to understanding your VAT obligations. Avalara can help your business comply with U.K. VAT requirements and manage your obligations, regardless of your business size or type.

Find out more

Get help solving your VAT challenges

+44 (0)1273 022400

Iceland VAT rates
Rate	Type	Which goods or services
24%	Standard	All other taxable goods and services
11%	Reduced	Hotel accommodation and services; newspapers; foodstuffs; travel agents; and passenger transport; e-books
0%	Zero	Exports; ships and aircraft; and export services
0%	Exempt	Financial services; residential property leases; education; public transport; cultural and sporting events; and postal services

Icelandic VAT rates and compliance

Icelandic VAT rates

Iceland VAT rates

Icelandic VAT compliance

Time of supply

Icelandic VAT rates and compliance - Avalara

Need help with your UK VAT compliance?

Iceland VAT news

Total results : 4

Ukraine VAT Guide - Avalara

UK VAT Guide - Avalara

UK VAT rates and VAT compliance - Avalara

UK Import VAT Duty Deferment - Avalara

Get help solving your VAT challenges