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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.

Virtual Assistant Services to Invoice

  • Administrative support
  • Email management
  • Calendar scheduling
  • Data entry
  • Research
  • Customer support
  • Social media

Invoice Requirements in Iceland

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

Payment Terms

Retainers paid monthly in advance. Hourly billed bi-weekly or monthly.

Reiðufé14 dagar30 dagarGjalddagi

Payment Methods in Iceland

Bank TransferCredit CardCash

Virtual Assistant Invoice Tips

  • Track hours with descriptions
  • Group tasks by category
  • Include time tracking report
  • Reference retainer hours
  • Note overtime

Frequently Asked Questions

What tax rate applies to virtual assistant 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 virtual assistants in Iceland?

Common payment methods in Iceland include: Bank Transfer, Credit Card, Cash. Retainers paid monthly in advance. Hourly billed bi-weekly or monthly.

What should virtual assistant invoices include in Iceland?

Your invoice should include: Kennitala, VSK number, Business address, Client kennitala. For virtual assistant services specifically, also include: Administrative support, Email management, Calendar scheduling.

How should VAs track and bill time?

Use time tracking software. Provide detailed reports with invoices.

Should VAs offer retainer packages?

Yes, retainers provide stable income. Offer 10, 20, or 40 hour packages.

What VSK rates apply?

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