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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.

Illustrator Services to Invoice

  • Editorial illustration
  • Book illustration
  • Character design
  • Concept art
  • Pattern design
  • Icon illustration
  • Infographics

Invoice Requirements in Iceland

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

Payment Terms

50% deposit, 50% on delivery. Licensing fees may be separate from creation fees.

Reiðufé14 dagar30 dagarGjalddagi

Payment Methods in Iceland

Bank TransferCredit CardCash

Illustrator Invoice Tips

  • Specify number of illustrations
  • Include complexity level
  • Note licensing terms
  • Reference style/mood boards
  • Document revision rounds

Frequently Asked Questions

What tax rate applies to illustrator 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 illustrators in Iceland?

Common payment methods in Iceland include: Bank Transfer, Credit Card, Cash. 50% deposit, 50% on delivery. Licensing fees may be separate from creation fees.

What should illustrator invoices include in Iceland?

Your invoice should include: Kennitala, VSK number, Business address, Client kennitala. For illustrator services specifically, also include: Editorial illustration, Book illustration, Character design.

How should illustrators price their work?

Based on complexity, usage rights, and client type. Editorial rates differ from commercial.

What licensing terms should illustrators specify?

Define usage (print, digital, merchandise), duration, and exclusivity.

What VSK rates apply?

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