Iceland VAT Calculator 2026
Calculate Value Added Tax (VAT) in Iceland. Standard rate 24%, reduced rate 11% for food, hotels, and certain goods and services.
Iceland Tax System
Value Added Tax (VAT) in Iceland is charged at a standard rate of 24% on most goods and services. A reduced rate of 11% applies to food products, hotel accommodation, newspapers, books, and domestic passenger transport. Certain services such as healthcare, education, and financial services are VAT-exempt. Businesses with annual turnover exceeding ISK 2,000,000 must register for VAT.
2026 Rates: VAT 24% standard, 11% reduced, exempt supplies.
Iceland VAT Calculator 2026
Calculate VAT in Iceland 2026. Standard rate 24%, reduced rate 11%.
Net AmountISKĀ 1,000,000
VAT (24%)ISKĀ 240,000
Gross AmountISKĀ 1,240,000