VAT News

Requirement to Appoint a VAT Fiscal Representative In Iceland Ends

A Fiscal representative is a type of VAT agent who is responsible for the VAT compliance of its clients such as VAT records, filings and VAT payments.

They are jointly and severally liable for any unpaid VAT their client owes. From 1st July 2019, Iceland has decided to do away with the obligation for non-residents businesses operating in the country to appoint a fiscal representative.

In lieu of the obligation to appoint a fiscal representative, foreign businesses selling in Iceland may register to declare local VAT via a general registration or through a new simplified registration scheme without a representative.

Related articles

India Determined to Raise Taxes and Review Exemptions in a Bid to Increase Revenue

The move to review tax rates, exemptions and the cess comes amid a shortfall in revenue receipts of the union.

Read more
Why Half of Small Businesses Make VAT Return Errors

Why Half of Small Businesses Make VAT Return Errors

Read more
MTD for VAT — A New Compliance Rule for UK Businesses

MTD for VAT — A New Compliance Rule for UK Businesses

Read more