Icelandic invoice rules

Invoice date of issue

VAT invoices must be issued within 30 days of the provision of a supply.

Icelandic invoice requirements

  • Name, including trading name, and address of supplier and customer
  • VAT number of the supplier
  • Date of invoice
  • Description, including quantities/weights etc, of the taxable supplies
  • Taxable amount, VAT added, gross amount
  • Foreign currency invoices should show the conversion rate and calculation

Need help with your Icelantic VAT compliance?



Researching Icelantic VAT legislation is the first step to understanding your VAT compliance needs. Avalara has a range of solutions that can help your business depending on where and how you trade. 

Latest Icelandic news

Iceland scraps e-book VAT 2019

April 10, 2018

Iceland’s Ministry of Finance and Economic Affairs is to reclassify electronic books as zero-rated for Value Added Tax from 1 January 2019. E-books are...

Iceland considers Occupancy Tax over VAT

December 12, 2017

The new Icelandic government has scrapped plans to introduce VAT on short-term room and house rentals. Instead, it will review an Occupancy Tax -...

Iceland VAT rate to 22.5% 2019

April 6, 2017

The Icelandic government is planning to reduce its standard VAT rate from 24% to 22.5% from 1 January 2019. The announcement came as part...