Contractor Invoice Generator for Iceland
Create professional contractor invoices for clients in Iceland. This free invoice generator combines contractor-specific billing practices with Iceland's tax requirements (24% VSK) and preferred payment methods like Bank Transfer and Credit Card.
Free, no registration required. Your data stays in your browser.
Iceland Tax Information
VSK (VAT) is 24% standard, 11% for hotels/books/food. No threshold - all businesses must register. Source: Icelandic Revenue and Customs.
Contractor Services to Invoice
- Labor charges
- Material costs
- Equipment rental
- Permit fees
- Subcontractor work
- Change orders
- Warranty work
Invoice Requirements in Iceland
Payment Terms
Progress billing at milestones. Retain 5-10% until final inspection.
Payment Methods in Iceland
Contractor Invoice Tips
- Break down materials and labor
- Reference permits
- Document change orders
- Include lien waiver language
- Track progress payments
Frequently Asked Questions
What tax rate applies to contractor 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 contractors in Iceland?
Common payment methods in Iceland include: Bank Transfer, Credit Card, Cash. Progress billing at milestones. Retain 5-10% until final inspection.
What should contractor invoices include in Iceland?
Your invoice should include: Kennitala, VSK number, Business address, Client kennitala. For contractor services specifically, also include: Labor charges, Material costs, Equipment rental.
How should contractors bill for projects?
Progress invoicing at milestones. Break down labor, materials, and subcontractor costs.
How do contractors handle material markup?
15-25% markup is standard. State policy in contracts.
What VSK rates apply?
Iceland has 24% standard VAT and 11% reduced rate for hotels, books, and some food. No zero-rated goods domestically.