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Standard VAT Rate: 24%

Reduced VAT Rate: 11%

VAT Registration

Registration threshold: The supply of goods or services has to exceed the amount of 500,000 ISK a year.

Automate your VAT compliance processes in SAP

VAT Returns

The normal VAT period is two months and the returns are made 6 times a year.

The return must be filed one month and 5 days after the expiration of the last VAT period.

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