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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.

Financial Advisor Services to Invoice

  • Financial planning
  • Investment advisory
  • Retirement planning
  • Tax planning
  • Estate planning
  • Insurance review
  • Wealth management

Invoice Requirements in Iceland

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

Payment Terms

Fee-only: project-based or AUM percentage. Flat retainer for ongoing planning.

Reiðufé14 dagar30 dagarGjalddagi

Payment Methods in Iceland

Bank TransferCredit CardCash

Financial Advisor Invoice Tips

  • Include advisor registration
  • Reference advisory agreement
  • Note AUM if applicable
  • Document planning deliverables
  • Meet compliance requirements

Frequently Asked Questions

What tax rate applies to financial advisor 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 financial advisors in Iceland?

Common payment methods in Iceland include: Bank Transfer, Credit Card, Cash. Fee-only: project-based or AUM percentage. Flat retainer for ongoing planning.

What should financial advisor invoices include in Iceland?

Your invoice should include: Kennitala, VSK number, Business address, Client kennitala. For financial advisor services specifically, also include: Financial planning, Investment advisory, Retirement planning.

How should financial advisors structure fees?

AUM percentage (0.5-1.5%), flat retainer, hourly, or project-based. Disclose fee structure clearly.

What compliance info should be on invoices?

Advisor registration (CFP, RIA), firm info, and fee disclosure language as required.

What VSK rates apply?

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