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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.

Data Scientist Services to Invoice

  • Data analysis
  • Predictive modeling
  • Machine learning
  • Statistical analysis
  • Data visualization
  • A/B testing
  • Research

Invoice Requirements in Iceland

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

Payment Terms

Project-based for analysis. Retainer for ongoing data support.

Reiðufé14 dagar30 dagarGjalddagi

Payment Methods in Iceland

Bank TransferCredit CardCash

Data Scientist Invoice Tips

  • Reference datasets
  • Include models
  • Document methodology
  • Note tools used
  • Track accuracy

Frequently Asked Questions

What tax rate applies to data scientist 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 data scientists in Iceland?

Common payment methods in Iceland include: Bank Transfer, Credit Card, Cash. Project-based for analysis. Retainer for ongoing data support.

What should data scientist invoices include in Iceland?

Your invoice should include: Kennitala, VSK number, Business address, Client kennitala. For data scientist services specifically, also include: Data analysis, Predictive modeling, Machine learning.

How to price data science?

Project-based for specific analysis, retainer for ongoing, value-based for high-impact.

Include compute costs?

List separately from service fees. Document resource usage.

What VSK rates apply?

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