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Expiration of tax relief measures for electric modes of transport

The Icelandic tax agency has announced that tax relief measures for the acquisition of electric modes of transport will expire at the end of this year. These measures include the exemption of VAT on importation and the first sale, with specific value caps, for electric and hydrogen vehicles, as well as electric bikes and mopeds. From January 1, 2024, standard value-added tax regulations will apply to payments made for domestically available vehicles, even if the delivery occurs in the subsequent year. Importantly, tax reliefs will no longer be valid for imports starting from January 1, 2024.

Source GVC

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