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Iceland doubles VAT registration threshold

  • VAT
  • 10 January 2017 | Richard Asquith

Iceland doubles VAT registration threshold

Iceland has increased the annual taxable sales threshold for VAT registration from ISK1million to ISK2million. This will apply from 1 January 2017.

The threshold only applies to resident businesses.  Non-resident businesses selling taxable supplies locally and who have to register face a nil threshold.

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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 this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.