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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.

Social Media Manager Services to Invoice

  • Content creation
  • Posting & scheduling
  • Community management
  • Paid ads management
  • Analytics reporting
  • Strategy development
  • Influencer outreach

Invoice Requirements in Iceland

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

Payment Terms

Monthly retainer paid in advance. Ad spend passed through separately.

Reiðufé14 dagar30 dagarGjalddagi

Payment Methods in Iceland

Bank TransferCredit CardCash

Social Media Manager Invoice Tips

  • Specify platforms managed
  • Include number of posts
  • Document ad spend separately
  • Reference engagement metrics
  • Note content calendar delivery

Frequently Asked Questions

What tax rate applies to social media manager 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 social media managers in Iceland?

Common payment methods in Iceland include: Bank Transfer, Credit Card, Cash. Monthly retainer paid in advance. Ad spend passed through separately.

What should social media manager invoices include in Iceland?

Your invoice should include: Kennitala, VSK number, Business address, Client kennitala. For social media manager services specifically, also include: Content creation, Posting & scheduling, Community management.

How should social media managers price their services?

Monthly packages based on platforms, posting frequency, and services included. Typically $500-$5,000+/month.

Should ad spend be on the invoice?

List ad spend separately from management fees. Either pass through or have client pay platforms directly.

What VSK rates apply?

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