Documentation on Iceland

Complete guide to Iceland's kennitala (TIN) and VSK-nr (VAT number) — 10-digit format, checksum algorithm, company registration, and VAT obligations for foreign businesses.

The VAT (virðisaukaskattur, VSK) rules for doing business in Iceland — the 24% standard rate and 11% reduced rate, the ISK 2,000,000 registration threshold, VOES registration for foreign B2C suppliers of electronic services, invoice particulars under Reglugerð nr. 50/1993, two-month settlement periods with a due date one month and five days after period end, the B2G-only e-invoicing mandate, penalties under Lög nr. 50/1988 — and the temporary 11% fuel VAT rate that reverts to 24% on 1 September 2026.