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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.

Game Developer Services to Invoice

  • Game development
  • Level design
  • Game mechanics
  • Unity/Unreal work
  • Mobile games
  • VR/AR games
  • Game porting

Invoice Requirements in Iceland

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

Payment Terms

Milestone-based: prototype, alpha, beta, release. Publishers often Net 30-60.

Reiðufé14 dagar30 dagarGjalddagi

Payment Methods in Iceland

Bank TransferCredit CardCash

Game Developer Invoice Tips

  • Reference build versions
  • Include milestone deliverables
  • Document platform targets
  • Note engine licenses
  • Track asset creation

Frequently Asked Questions

What tax rate applies to game developer 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 game developers in Iceland?

Common payment methods in Iceland include: Bank Transfer, Credit Card, Cash. Milestone-based: prototype, alpha, beta, release. Publishers often Net 30-60.

What should game developer invoices include in Iceland?

Your invoice should include: Kennitala, VSK number, Business address, Client kennitala. For game developer services specifically, also include: Game development, Level design, Game mechanics.

How to structure game dev payments?

Milestone payments: concept, prototype, alpha, beta, gold master.

Should engine licenses be included?

Pass through at cost or factor into project. Specify in contract.

What VSK rates apply?

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