Other European country
Iceland VAT calculator
Calculate VAT for transactions in Iceland easily. Current standard rate is 24%.
-
European Union
Austria
20%
-
Belgium
21%
-
Bulgaria
20%
-
Croatia
25%
-
Cyprus
19%
-
Czech Republic
21%
-
Denmark
25%
-
Estonia
24%
-
Finland
25.5%
-
France
20%
-
Germany
19%
-
Greece
24%
-
Hungary
27%
-
Ireland
23%
-
Italy
22%
-
Latvia
21%
-
Lithuania
21%
-
Luxembourg
17%
-
Malta
18%
-
Netherlands
21%
-
Poland
23%
-
Portugal
23%
-
Romania
21%
-
Slovakia
23%
-
Slovenia
22%
-
Spain
21%
-
Sweden
25%
-
Other European countries
Iceland
24%
-
Norway
25%
-
Switzerland
8.1%
-
Turkey
20%
-
United Kingdom
20%
- No countries found
The standard rate applies to most goods and services.
Total (incl. VAT)
ISK 1,240.00
ISK 1,000.00 plus 24% VAT in Iceland
- Net amount
- ISK 1,000.00
- VAT 24%
- + ISK 240.00
- Gross amount
- ISK 1,240.00
Recent calculations
Key information
Iceland VAT rates and formulas
Rate reference
- Standard The standard rate applies to most goods and services.
- 24%
- Reduced Reduced rates cover categories such as food, books, medicines or accommodation, depending on the country.
- 11%
- Currency
- ISK · kr
- EU member
- No
Calculation reference
Adding 24% VAT
Net × 1.24 = gross
ISK 100.00 → ISK 124.00
Removing 24% VAT
Gross ÷ 1.24 = net
ISK 100.00 → ISK 80.65
For the VAT inside a price that includes 24% VAT, multiply the price by 24 and divide by 124.
Iceland VAT on common amounts
At the standard rate of 24%. Open a figure for the full breakdown, ready to share.
| Amount | Adding 24% VAT | Removing 24% VAT |
|---|---|---|
| ISK 100 | +ISK 24.00 ISK 124.00 | −ISK 19.35 ISK 80.65 |
| ISK 200 | +ISK 48.00 ISK 248.00 | −ISK 38.71 ISK 161.29 |
| ISK 500 | +ISK 120.00 ISK 620.00 | −ISK 96.77 ISK 403.23 |
| ISK 1,000 | +ISK 240.00 ISK 1,240.00 | −ISK 193.55 ISK 806.45 |
| ISK 2,500 | +ISK 600.00 ISK 3,100.00 | −ISK 483.87 ISK 2,016.13 |
| ISK 5,000 | +ISK 1,200.00 ISK 6,200.00 | −ISK 967.74 ISK 4,032.26 |
| ISK 10,000 | +ISK 2,400.00 ISK 12,400.00 | −ISK 1,935.48 ISK 8,064.52 |
Questions about VAT in Iceland
What is the VAT rate in Iceland?
The standard VAT rate in Iceland is 24%. Reduced rates of 11% apply to selected goods and services.
How do I add VAT to a price in Iceland?
Multiply the net price by 1.24. For example, ISK 100.00 plus 24% VAT is ISK 124.00.
How do I remove VAT from a price in Iceland?
Divide the price including VAT by 1.24. For example, ISK 100.00 including 24% VAT is ISK 80.65 before VAT.