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Iceland scraps e-book VAT 2019

  • VAT
  • 10 April 2018 | Richard Asquith

Iceland scraps e-book VAT 2019

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 currently subject to the reduced VAT rate of 11%.

Iceland is a member of the EEA, and not a member of the European Union where countries are obliged to charge the full standard VAT rate on e-books. This is despite printed books enjoying the right to reduced or zero-rating. The European Commission has proposed freeing member states to set their reduced rates as they wish.

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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.