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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.

Translator Services to Invoice

  • Document translation
  • Website localization
  • Legal translation
  • Medical translation
  • Technical translation
  • Interpretation
  • Proofreading

Invoice Requirements in Iceland

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

Payment Terms

50% upfront for new clients, balance on delivery. Net 30 for agencies.

Reiðufé14 dagar30 dagarGjalddagi

Payment Methods in Iceland

Bank TransferCredit CardCash

Translator Invoice Tips

  • Specify language pair
  • Include word count
  • Note certification if applicable
  • Reference source documents
  • Document rush fees

Frequently Asked Questions

What tax rate applies to translator 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 translators in Iceland?

Common payment methods in Iceland include: Bank Transfer, Credit Card, Cash. 50% upfront for new clients, balance on delivery. Net 30 for agencies.

What should translator invoices include in Iceland?

Your invoice should include: Kennitala, VSK number, Business address, Client kennitala. For translator services specifically, also include: Document translation, Website localization, Legal translation.

How should translators price their work?

Per word, per page, or hourly. Rates vary by language pair and specialization.

What should translation invoices include?

Language pair, word count, document type, certification (if applicable), and turnaround.

What VSK rates apply?

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