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A VAT Refund Guide to 

冰岛

How to get VAT Refunds from Iceland for your business

Businesses registered in countries outside of Iceland can claim VAT refunds on any costs incurred in Iceland.
The below information details the requirements needed to be eligible for a VAT refund. This includes claimable expense types, Iceland VAT rates, deadlines and claiming periods.

Where is your company based?

EU

based businesses

VAT-registered businesses in an EU member state are eligible to recover VAT on business costs from Iceland under the EU VAT Refund Directive.

NON-EU

based businesses

VAT-registered businesses outside of the European Union are eligible to recover VAT on business costs from Iceland under the 13th Directive.

Which countries have reciprocity with Iceland?

All countries can claim

For a more detailed explanation on what reciprocity means within the scope of VAT, click here:

What expenses are claimable in Iceland?

ENTERTAINMENT & HOSPITALITY

Entertainment

0%
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Hotels & Accommodation

11%
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Restaurants

0%

EVENTS

Conferences, Trade Shows & Exhibitions

24%

Training Courses & Seminars

24%

GENERAL EXPENSES

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Goods

24%

Inter-company charges

24%

Office Expenses

24%
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Marketing Costs

24%

Professional Fees & AP invoices

24%

TRAVEL RELATED

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Car Rental

0%
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Fuel

0%
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Public Transport

0%
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Taxis

0%

Additional Information

How far back can your business claim VAT from Iceland?
6 years from the previous year
What’s the foreign VAT deadline in Iceland?
30 June each year
How long does it take to receive a VAT refund from Iceland?
Depending on the complexity of your application and the capacity at the VAT authority, it can take up to 4 months to receive a VAT refund from Iceland

Need help with your VAT refund from Iceland?

You don’t have to do this alone. We’ve been helping companies reclaim foreign VAT refunds for over 20 years. We have the knowledge and technology to process your refunds quicker as well as attend to any unforeseen VAT authority queries that may arise.

Download a full international VAT guide and never miss a deadline

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