Iceland public holidays 2026, VAT rate and tax data
Iceland: VAT rate 24% since 1 Jan 2015; 15 public holidays in 2026 (next: Jóladagur (Christmas Day), 25 Dec 2026); corporate tax rate 20%; policy interest rate 8%; inflation rate (CPI) 5.9%.
12 series, each cited to the official source it was verified against; most recently verified 28 Oct 2026. Currency ISK.
verified recentlyre-verification due soonstaleColour is the age of the last check against the series' own update cycle.
Get a free API key
Get Iceland's official figures as JSON in your own code, from the same data as this page. Each value is cited to its source.
- 50 calls a day on the computed answers: VAT breakdowns, income tax, payroll, working days and more
- Public holidays for every country, unlimited
- Commercial use allowed
- Email only, no card. One key works on all seven brands
Takes a minute: confirm your email and the key is shown once.
{ "country": "IS", "series": "vat", "value": 24, "unit": "percent", "effective_from": "2015-01-01", "last_confirmed": "2026-09-12", "source": { "name": "Skatturinn", "url": "https://www.skatturinn.is/english/companies/value-added-tax/" } }
Excerpt, from the same data as this page. This endpoint is $0.003 a call by x402 or MPP, no signup. With a free key, try POST /v1/answers/vat {"country":"is","amount":1000}.
Iceland public holidays 2026
15 days in 2026; next: Jóladagur (Christmas Day) on 25 Dec 2026. Official source: Alþingi, Lagasafn · last verified 30 Jul 2026
Fixed by law 12 Confirmed 3
| Date | Holiday | Status | Source |
|---|---|---|---|
| 1 Jan 2026 Thu | Nýársdagur (New Year's Day) | Fixed by law | Alþingi, Lagasafn |
| 2 Apr 2026 Thu | Skírdagur (Maundy Thursday) | Fixed by law | Alþingi, Lagasafn |
| 3 Apr 2026 Fri | Föstudagurinn langi (Good Friday) | Fixed by law | Alþingi, Lagasafn |
| 5 Apr 2026 Sun | Páskadagur (Easter Sunday) | Fixed by law | Alþingi, Lagasafn |
| 6 Apr 2026 Mon | Annar í páskum (Easter Monday) | Fixed by law | Alþingi, Lagasafn |
| 23 Apr 2026 Thu | Sumardagurinn fyrsti (First Day of Summer) | Confirmed | Alþingi, Lagasafn |
| 1 May 2026 Fri | Verkalýðsdagurinn / 1. maí (Labour Day) | Fixed by law | Alþingi, Lagasafn |
| 14 May 2026 Thu | Uppstigningardagur (Ascension Day) | Fixed by law | Alþingi, Lagasafn |
| 24 May 2026 Sun | Hvítasunnudagur (Whit Sunday / Pentecost) | Fixed by law | Alþingi, Lagasafn |
| 25 May 2026 Mon | Annar í hvítasunnu (Whit Monday) | Fixed by law | Alþingi, Lagasafn |
| 7 Jun 2026 Sun | Sjómannadagurinn (Seamen's Day — statutory general holiday for seafarers only) | Confirmed | Alþingi, Lagasafn |
| 17 Jun 2026 Wed | Þjóðhátíðardagurinn (Icelandic National Day) | Fixed by law | Alþingi, Lagasafn |
| 3 Aug 2026 Mon | Frídagur verslunarmanna (Commerce Day / Bank Holiday) | Confirmed | Alþingi, Lagasafn |
| 25 Dec 2026 Fri | Jóladagur (Christmas Day) | Fixed by law | Alþingi, Lagasafn |
| 26 Dec 2026 Sat | Annar í jólum (St Stephen's Day / Boxing Day) | Fixed by law | Alþingi, Lagasafn |
2027 dates already held (15)
| Date | Holiday | Status | Source |
|---|---|---|---|
| 1 Jan 2027 Fri | Nýársdagur (New Year's Day) | Fixed by law | Alþingi, Lagasafn |
| 25 Mar 2027 Thu | Skírdagur (Maundy Thursday) | Fixed by law | Alþingi, Lagasafn |
| 26 Mar 2027 Fri | Föstudagurinn langi (Good Friday) | Fixed by law | Alþingi, Lagasafn |
| 28 Mar 2027 Sun | Páskadagur (Easter Sunday) | Fixed by law | Alþingi, Lagasafn |
| 29 Mar 2027 Mon | Annar í páskum (Easter Monday) | Fixed by law | Alþingi, Lagasafn |
| 22 Apr 2027 Thu | Sumardagurinn fyrsti (First Day of Summer — first Thursday after 18 April) | Confirmed | Alþingi, Lagasafn |
| 1 May 2027 Sat | Verkalýðsdagurinn / 1. maí (Labour Day) | Fixed by law | Alþingi, Lagasafn |
| 6 May 2027 Thu | Uppstigningardagur (Ascension Day) | Fixed by law | Alþingi, Lagasafn |
| 16 May 2027 Sun | Hvítasunnudagur (Whit Sunday / Pentecost) | Fixed by law | Alþingi, Lagasafn |
| 17 May 2027 Mon | Annar í hvítasunnu (Whit Monday) | Fixed by law | Alþingi, Lagasafn |
| 6 Jun 2027 Sun | Sjómannadagurinn (Seamen's Day — statutory general holiday for seafarers only; first Sunday of June) | Confirmed | Alþingi, Lagasafn |
| 17 Jun 2027 Thu | Þjóðhátíðardagurinn (Icelandic National Day) | Fixed by law | Alþingi, Lagasafn |
| 2 Aug 2027 Mon | Frídagur verslunarmanna (Commerce Day / Bank Holiday — first Monday of August) | Confirmed | Alþingi, Lagasafn |
| 25 Dec 2027 Sat | Jóladagur (Christmas Day) | Fixed by law | Alþingi, Lagasafn |
| 26 Dec 2027 Sun | Annar í jólum (St Stephen's Day / Boxing Day) | Fixed by law | Alþingi, Lagasafn |
Status is read from the record: fixed by law follows from a standing rule (a fixed date or the Easter computus); confirmed is dated in the cited official calendar and not flagged provisional; estimated is provisional or moon-sighting dependent; substitute stands in for a statutory day that fell on a weekend or was moved. Hover a status for the reason.
Every current Iceland value
Rate schedules and breakdowns
Withholding tax rates
12–22% across 5 withholding taxes — no single rate · in force from 2025-01-01 · Official source: Skatturinn, per-topic English pages: Non-resident - 'Dividends paid by resident… · last verified 16 Sep 2026 secondary
Rates by payment type
| key | label | rate | applies to | effective from | confidence note | Source |
|---|---|---|---|---|---|---|
| dividends-individual | Withholding on dividends - non-resident individuals | 22 | dividends paid by Icelandic resident companies to non-resident individual shareholders; a final withholding tax | — | — | Skatturinn - Non-resident: 'Dividends… |
| Matches the domestic capital-income tax rate for individuals (22% since 2018). | ||||||
| dividends-corporate | Withholding on dividends - non-resident companies | 20 | dividends paid by Icelandic resident companies to non-resident companies | 2025-01-01 | — | Skatturinn - Dividends: 'Non-resident… |
| The 21% rate was a 2024-only measure; 20% (the corporate income tax rate) applies from 2025. EEA REFUND: limited-liability companies resident in EEA member states 'can claim a full refund from taxes withheld at source' on dividends from Icelandic limited companies (for dividends… | ||||||
| interest | Withholding on interest | 12 | interest paid to non-resident individuals and companies on Icelandic bank accounts, investment and security funds, Icelandic bonds and other financial claims (withheld under Act no. 94/1996) | 2025-01-01 | — | Skatturinn - Interests: 'Interest… |
| The 13% rate was a 2024-only measure; 12% applies from 2025. For individuals, only interest exceeding ISK 150,000 remains taxable in the final assessment. Treaties commonly reduce interest to 0-10%, but only after RSK 5.42 approval. | ||||||
| royalties-individual | Withholding on royalties - non-resident individuals | 22 | royalties paid by Icelandic resident companies to non-resident individuals | — | The Skatturinn page quotes the 22% rate 'in the income year 2024' and has not been restated for later years; no later change is known, but the citation is one year stale. | Skatturinn - Non-resident: 'Royalties… |
| The Skatturinn page adds that 'municipal income tax is levied on royalties paid to non-resident individuals at the average rate 14,93%' on top of the state rate - royalty income of non-resident individuals is thus taxed more heavily than the 22% headline alone suggests. | ||||||
| royalties-corporate | Withholding on royalties - non-resident companies | 22 | gross royalties from Icelandic sources paid to non-resident companies with no Icelandic permanent establishment. Where the royalty income is instead attributable to an Icelandic permanent establishment it falls under 3. gr. 4. tölul. / 70. gr. 4. tölul. b-liður, where 20% is the correct rate | 2018-01-01 | The statute and the administering authority disagree, and the statute is served. Skatturinn's English 'Limited tax liability' page still prints 20% for companies under Article 3.6, and gives the individual figure as 34,94% 'in the income year 2026' - which is 20% plus the 14,94% municipal rate, the same total it gives for Article 3.2 where 20% genuinely is correct; on a 22% base it would be 36,94%. The page's year was refreshed and its percentages were not. Against that: 70. gr. 6. tölul. reads a flat 22% in the current consolidation; 71. gr.'s 20% is expressly confined to resident entities under 2. gr. and cannot reach a non-resident taxed under 3. gr.; the change was placed at L. 96/2017 by diffing the Lagasafn editions, which read 20% at 146a, 146b and 147 and 22% at 148a; and the 2024 corporate surcharge provision enumerates several sub-paragraphs but pointedly not the 6th. Skatturinn's own 'Non-resident' English page gives 22%. No Skatturinn ruling affirming 22% for companies was found. | Lög nr. 90/2003 um tekjuskatt, 70. gr… |
Tekjuskattur og útsvar einstaklinga
31.49–46.29% across 3 bands · in force from 2026-01-01 · Official source: Skatturinn · last verified 24 Jul 2026
| min | max | rate |
|---|---|---|
| 0 | 498122 | 31.49 |
| 498122 | 1398450 | 37.99 |
| 1398450 | — | 46.29 |
Statutory social-insurance contributions
0.05–15.5% across 8 contribution branches · in force from 2026-01-01 · Official source: Lög nr. 113/1990 um tryggingagjald; Skatturinn (Iceland Revenue and Customs)… · last verified 11 Aug 2026
| key | label | rate total | rate employee | rate employer | unit | base | currency |
|---|---|---|---|---|---|---|---|
| tryggingagjald_almennt | Almennt tryggingagjald (general social security contribution) — employer-only | 4.9 | 0 | 4.9 | percent | "Allar tegundir skattskyldra launa eða þóknana fyrir starf, hverju nafni sem þær nefnast" — every kind of taxable wage or fee for work, whatever it is called, including benefits in kind, gains on share options and, for the self-employed, calculated remuneration subject to a statutory minimum of ISK 748.224 a year. THE BASE INCLUDES THE EMPLOYER'S OWN PENSION CONTRIBUTIONS. NO CEILING and no floor. | ISK |
| EMPLOYER-ONLY. Iceland has NO employee social security contribution at all: the whole of tryggingagjald falls on the employer, and the only deduction an Icelandic employee suffers besides income tax is the 4 % pension contribution. THE BASE INCLUDES EMPLOYER PENSION… | |||||||
| atvinnutryggingagjald | Atvinnutryggingagjald (unemployment insurance component of tryggingagjald) — employer-only | 1.35 | 0 | 1.35 | percent | The same tryggingagjald base — all taxable wages and fees for work, including benefits in kind and the employer's pension contributions. No ceiling. | ISK |
| EMPLOYER-ONLY, funding the Atvinnuleysistryggingasjóður (unemployment insurance fund). THE EMPLOYEE CONTRIBUTES NOTHING TO UNEMPLOYMENT INSURANCE in Iceland, in contrast to almost every other country in this dataset. This is the component that moves: it is the counter-cyclical… | |||||||
| abyrgdasjodur_launa | Gjald í Ábyrgðasjóð launa (wage guarantee fund contribution) — employer-only | 0.05 | 0 | 0.05 | percent | The same tryggingagjald base. No ceiling. | ISK |
| EMPLOYER-ONLY AND TINY. The fund guarantees unpaid wages, holiday pay and termination compensation where the employer becomes insolvent — Iceland's equivalent of the Belgian Fonds de fermeture d'entreprises and the Danish Lønmodtagernes Garantifond. It is a separate levy under… | |||||||
| markadsgjald | Markaðsgjald (market fee) — employer-only | 0.05 | 0 | 0.05 | percent | The same tryggingagjald base. No ceiling. | ISK |
| EMPLOYER-ONLY, AND NOT SOCIAL INSURANCE AT ALL. The markaðsgjald funds Íslandsstofa (Business Iceland) and export and inward-investment promotion; it confers no entitlement on the employee whatsoever. It is served as a branch only because it is levied on the same base, collected… | |||||||
| lifeyrissjodur | Lífeyrissjóður — skyldutrygging lífeyrisréttinda (mandatory occupational pension) | 15.5 | 4 | 11.5 | percent | Total wages and remuneration for work (heildarlaun). NO CEILING. Compulsory for everyone in employment or self-employment from age 16 to 70; the self-employed pay both shares. | ISK |
| MANDATORY BY STATUTE AND FAR LARGER THAN THE SOCIAL SECURITY CONTRIBUTION ITSELF — 15,5 % against 6,35 %. Iceland is the outlier of the Nordic group: Denmark and Sweden leave occupational pension to collective agreement, Norway legislates a 2 % floor, Iceland legislates 15,5 %… | |||||||
| vidbotarlifeyrissparnadur | Viðbótarlífeyrissparnaður (supplementary pension savings) — quasi-mandatory employer match | — | — | — | percent | Total wages. The employee may contribute up to 4 % and, where the employee contributes at least 2 %, the employer's matching contribution under the general collective agreements is 2 %. Voluntary for the employee; the employer's match is contractual once the employee opts in. | ISK |
| INCLUDED AS A VISIBLE BRANCH WITH ALL RATES NULL, BECAUSE IT IS A DEFAULT RATHER THAN AN OBLIGATION AND MOST EMPLOYEES TAKE IT. Where the employee elects to save at least 2 % of pay, the employer under the general collective agreements adds 2 %, so the real Icelandic employer… | |||||||
| starfsendurhaefingarsjodur | Gjald í starfsendurhæfingarsjóð (VIRK vocational rehabilitation fund) — employer-only | 0.1 | 0 | 0.1 | percent | The same wage base as the pension contribution. No ceiling. Paid to the vocational rehabilitation fund alongside the pension contribution, not through the tryggingagjald withholding. | ISK |
| EMPLOYER-ONLY AND OUTSIDE THE 6,35 % HEADLINE. It is a separate statutory levy under its own Act, remitted with the pension contribution rather than with tryggingagjald, so it is routinely omitted from Icelandic employer-cost figures that quote only tryggingagjald plus pension… | |||||||
| kjarasamningsbundin_gjold | Kjarasamningsbundin gjöld (collectively agreed employer funds: sick pay fund, holiday fund, training funds) and union dues | — | — | — | percent | Wages, as defined in the applicable collective agreement. Rates are set per agreement. | ISK |
| INCLUDED AS A VISIBLE BRANCH WITH ALL RATES NULL, BECAUSE THESE ARE COMPULSORY IN PRACTICE FOR ALMOST EVERY ICELANDIC EMPLOYER AND ARE SYSTEMATICALLY MISSING FROM PUBLISHED COST FIGURES. Under lög nr. 55/1980 the terms of the applicable collective agreement are minimum terms for… | |||||||
Central Bank of Iceland reference exchange rates
121.98 USD; 4 currencies held · in force from 2026-10-28 · Official source: Central Bank of Iceland · last verified 28 Oct 2026
| currency | rate |
|---|---|
| USD | 121.98 |
| EUR | 135.8 |
| GBP | 162.08 |
| JPY | 0.7722 |
Email me when a Iceland value changes
Free. One email when an official figure we track changes — not when we re-check it. You confirm by email first, and every alert has a one-click unsubscribe.
Compare each figure with the other European countries: Policy interest rate · Statutory interest rate · VAT rate · VAT registration threshold · Minimum wage · Public holidays · Inflation rate (CPI) · Corporate tax rate · Withholding tax rates · Income tax rates · Social contributions · Official exchange rates
Use it from code
# Free — the full catalogue of what we hold
curl https://euroref.dev/catalog
# Any series ($0.003 per call, x402 on Base — no key, no signup)
curl https://euroref.dev/v1/is/vat
# Change feed (free) — what moved, and when we last checked
curl https://euroref.dev/v1/changesWhat makes this different
Every value above names the official instrument it came from and the date it takes effect, and we record when we last checked it. Where a value could not be verified against its own statute we do not publish an estimate — the series is simply absent. Where a question falls outside what we hold, the API refuses and explains, free of charge, rather than returning a number that looks right.