pps@marosavat.com | +34 91 0602141

MarosaVAT EU VAT Services

Icelandic VAT registration threshold increased

principal / Icelandic VAT registration threshold increased

Icelandic VAT registration threshold increased

Disculpa, pero esta entrada está disponible sólo en Inglés Estadounidense. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language.

VAT registration threshold increase in Iceland

As from 1 January 2017, the tax authorities have announced an increase of the VAT registration threshold in Iceland for small established businesses from ISK 1M to ISK 2M. The limit to get VAT registered has doubled, which means many small businesses will fall out of the net of VAT obligations.

VAT registration thresholds in Iceland do not apply to non-established foreign companies. If you are VAT registered via fiscal representative in Iceland on the grounds of taxable transactions made in the country, you must keep your registration even if your annual turnover is below the threshold.

VAT registration thresholds for each EU country

The European Commission publishes every year the VAT registration threshold in each EU country. Some jurisdictions like the UK have a high threshold of circa €97,000, whereas other countries like Spain do not have a limit allowing small businesses to avoid a VAT registration.

  • By Marosa VAT
  • Publicado 07/01/2017 15:27