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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.
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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