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Iceland delays VAT payments to 2021 for coronavirus

  • Mar 24, 2020 | Richard Asquith

Iceland has announced Value Added Tax payment postponements to help businesses during the COVID-19 crisis. Companies will be able to apply for deferment of tax and VAT until 2021. Hotel taxes will be abolished until the end of 2021.

VAT reimbursement for construction and maintenance work will increased from 60% to 100%. In addition, the VAT reimbursement provision will be extended to the third sector organisations including charities and sports associations.

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.
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