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

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...