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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.

Business Coach Services to Invoice

  • One-on-one coaching
  • Group coaching
  • Strategy sessions
  • VIP days
  • Mastermind groups
  • Workshops
  • Assessment

Invoice Requirements in Iceland

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

Payment Terms

Programs paid in full or 2-3 payments. VIP days require full payment upfront.

Reiðufé14 dagar30 dagarGjalddagi

Payment Methods in Iceland

Bank TransferCredit CardCash

Business Coach Invoice Tips

  • Include package details
  • Reference coaching agreement
  • Track session dates
  • Note program milestones
  • Include bonuses delivered

Frequently Asked Questions

What tax rate applies to business coach 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 business coachs in Iceland?

Common payment methods in Iceland include: Bank Transfer, Credit Card, Cash. Programs paid in full or 2-3 payments. VIP days require full payment upfront.

What should business coach invoices include in Iceland?

Your invoice should include: Kennitala, VSK number, Business address, Client kennitala. For business coach services specifically, also include: One-on-one coaching, Group coaching, Strategy sessions.

How should coaches price packages?

Price based on transformation delivered. Package sessions for better value and commitment.

Should coaches require payment upfront?

Yes, upfront payment ensures commitment. Offer payment plans for higher-ticket programs.

What VSK rates apply?

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