🇮🇸 Iceland VAT Calculator
Calculate Icelandic VAT (VSK) with the standard rate of 24%.
Quick calculator
kr
Net price-
Tax amount-
Gross price-
How to calculate
Add VAT: net price × 1.24 = gross price.
Remove VAT: gross price ÷ 1.24 = net price.
Calculation Examples — 24%
| Net | VAT 24% | Gross |
|---|---|---|
| kr 100.00 | kr 24.00 | kr 124.00 |
| kr 500.00 | kr 120.00 | kr 620.00 |
| kr 1000.00 | kr 240.00 | kr 1240.00 |
Compare with neighbors
| Country | Std Rate | vs Iceland |
|---|---|---|
| Iceland ★ | 24% | — |
| 🇳🇴 Norway | 25% | +1% |
| 🇩🇰 Denmark | 25% | +1% |
| 🇸🇪 Sweden | 25% | +1% |
| 🇬🇧 United Kingdom | 20% | -4% |
Key facts
| Registration threshold | ISK 2,000,000/yr (~€13,000) |
| Filing frequency | Bi-monthly |
Good to know: Despite not being in the EU, Iceland follows many EU VAT directives as part of the EEA Agreement. The 11% reduced rate covers food, books, and public transport.
Official source
Reference only. Verify rates and exemptions with the official tax authority before filing or invoicing.
Rates verified May 2026Report incorrect rate →
Frequently Asked Questions
What is the VAT rate in Iceland?
The standard VAT rate in Iceland is 24%. Reduced rates also apply: 11%.
How do I add VAT in Iceland?
Multiply the net price by 1.24. For example, kr 100 net becomes kr 124.00 gross.
How do I remove VAT in Iceland?
Divide the gross price by 1.24. For example, kr 124.00 gross becomes kr 100 net.
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