Foreign VAT Refunds Guide from Iceland
The following information details the requirements needed to be eligible for a VAT refund in Iceland. These include claimable expense types, the Iceland VAT rates and deadlines, as well as claiming periods.
What Expenses are Claimable for VAT Refund in the Iceland?
Hotel & Accommodation
0
%
Restaurants
0
%
Conf, Trade Shows & Expo
0
%
Public Transport
0
%
Fuel
0
%
Marketing Costs
10
%
Professional Fees
10
%
Car Rental
0
%
Training, Courses & Seminar
10
%
What are the Iceland VAT Rates?
Iceland divides VAT rates into the following three categories:
Applies to all goods and services.
Applies to certain good and services such as hotel accommodation, admission to cultural events, and some food and drink items.
Applies to certain food items, books, and newspapers
How to Get VAT Refunds from Iceland for Your Business?
VAT Refunds Guide for EU Companies
- Register for VAT in your home country
- Provide evidence of your VAT registration to the Icelandic tax authorities (Ríkisskattstjóri)
- Submit a VAT refund claim to the Ríkisskattstjóri
- Include all required documentation, such as original invoices and receipts
- Wait for the Ríkisskattstjóri to process your claim and issue a refund
VAT Refunds Guide for Non-EU Companies
- Non-EU businesses must appoint a fiscal representative in Iceland to handle their VAT refund claims
- Register for VAT in Iceland through your fiscal representative
- Provide evidence of your VAT registration to the Ríkisskattstjóri
- Submit a VAT refund claim to the Ríkisskattstjóri through your fiscal representative
- Include all required documentation, such as original invoices and receipts
- Wait for the Ríkisskattstjóri to process your claim and issue a refund
Frequently Asked Questions About Iceland VAT Recovery
June 30 each year.
All countries.
Six years from the previous year.
It can take up to 4 months for a VAT refund to be processed by the Iceland Tax Authority depending on the complexity of the claim.
Need Help with Your VAT Refund from Iceland?
We have helped companies reclaim €200+ M in VAT refunds over the last eight years. Our expertise and technology allow us to process your refund quickly and automatically.
