VAT News

Iceland-Budget proposal

Recently announced in the Icelandic budget proposal was the confirmation that from January 2019, the standard rate of VAT will be reduced from 24% to 22.5%.

In addition, the plan to increase VAT on 'travel-related' services from the reduced rate of 11% to the standard rate has now been put back from 1.7.2018 to January 2019.

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