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Iceland Tax Information

24% VSK

VSK (VAT) is 24% standard, 11% for hotels/books/food. No threshold - all businesses must register. Source: Icelandic Revenue and Customs.

Architect Services to Invoice

  • Schematic design
  • Design development
  • Construction documents
  • Permit drawings
  • Site planning
  • Interior architecture
  • Project management

Invoice Requirements in Iceland

Kennitala
VSK number
Business address
Client kennitala
VSK breakdown
Total in ISK

Payment Terms

Phase-based billing. Percentage at each milestone. Retainer for ongoing projects.

Reiðufé14 dagar30 dagarGjalddagi

Payment Methods in Iceland

Bank TransferCredit CardCash

Architect Invoice Tips

  • Reference project phases
  • Include deliverables per phase
  • Note reimbursable expenses
  • Document design changes
  • Track percentage complete

Frequently Asked Questions

What tax rate applies to architect invoices in Iceland?

Iceland has 24% VSK. VSK (VAT) is 24% standard, 11% for hotels/books/food. No threshold - all businesses must register. Source: Icelandic Revenue and Customs.

What payment methods are common for architects in Iceland?

Common payment methods in Iceland include: Bank Transfer, Credit Card, Cash. Phase-based billing. Percentage at each milestone. Retainer for ongoing projects.

What should architect invoices include in Iceland?

Your invoice should include: Kennitala, VSK number, Business address, Client kennitala. For architect services specifically, also include: Schematic design, Design development, Construction documents.

How should architects bill for projects?

Percentage of construction cost, fixed fee by phase, or hourly. Phase-based is standard.

What about design changes?

Include scope of changes and bill as additional services beyond original scope.

What VSK rates apply?

Iceland has 24% standard VAT and 11% reduced rate for hotels, books, and some food. No zero-rated goods domestically.