Customs Credit – Deferred Payment of Import Charges

Companies and individuals registered for VAT are eligible for deferred payment of import charges (Customs Credit).

How does Customs Credit work?

Instead of paying VAT, customs duties and other import charges at the time of customs clearance, the charges are accumulated and paid later within a specified payment period, generally every two months.

Settlement periods

Statements and Charges

You can view transactions and charges relating to Customs Credit under Finance on My Pages. You can also access an overview of all customs declarations charged to a company through the company’s Customs Portal (Tollalína).

To charge import duties to Customs Credit, you must request this from the person responsible for the company’s customs declarations and instruct them to charge the duties to the company’s Customs Credit account.

Overdue payments

A Customs Credit account for a company or an individual is automatically suspended if import charges remain unpaid after the final due date.

Once all outstanding amounts have been paid, the charging authorization can be reactivated by sending proof of payment together with a request to upplysingar@skatturinn.is. Otherwise, the authorization will be reactivated automatically on the day following payment.

Suspended Customs Credit

The most common reasons why a company’s Customs Credit account is suspended are:

• Import charges from a previous deferred payment period remain unpaid after the final due date.

• The company’s alcohol duty credit account is overdue.

• The Recycling Fee (Úrvinnslugjald) charged on imports is overdue.

• The company has requested that its charging authorisation be manually suspended.