- Iceland’s parliament has amended the VAT Act to align with OECD VAT Guidelines and EU VAT Directive
- VAT will be levied in the country where the receiving business is located in most cases
- Non-resident companies may qualify for a VAT refund on service purchases
- The amendment aims to ensure clarity and transparency in the law and strengthen Iceland’s position in managing VAT for cross-border trade.
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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