Financial Management Authority
Collection of Public Charges
Kilometer fee on vehiclesis charged monthly based on an estimated average distance driven. Charges and any adjustments are processed each month.
VAT is paid according to the taxpayer’s settlement period.
The settlement period may be:
every two months
monthly
annually
The final payment date is the 5th day of the month.
Individual income tax is assessed after the tax return has been submitted and the assessment has been completed. The tax assessment notice is issued at the end of May.
The amount due is paid in several equal instalments during the year.
Due date: First day of each month
Final payment date: Last business day of each month
Capital income tax is collected in two ways:
as withholding tax when the income is paid
following a tax assessment
Import duties are paid during customs clearance when goods are imported into Iceland.
The due date and final payment date are the same day.
Fishing fees are assessed monthly based on catch records held by the Directorate of Fisheries.
The due date is the first day of each month for catches from two months earlier.
The final payment date is the 15th day of each month.
Iceland Revenue and Customs is responsible for VAT assessments.
When a credit balance is registered in the system, the refund is paid automatically.
If you do not receive your refund, your bank account details may be missing. You can register your bank account through My Pages on Ísland.is.
Tax and fee credits are refunded automatically each day.
If you do not receive your refund, your bank account details may be missing. You can register your bank account through My Pages on Ísland.is.
Service fees and other collections
Payment arrangements depend on the service provided and who is responsible for payment.
Payment may be made:
directly when the service is provided
by invoice
through centralised collection
Payment claims are sent to:
a parent or guardian if the student is under 18
the student if they are 18 or older
Collections between government institutions are processed daily.
Due dates and final payment dates depend on the arrangements between the institutions.
Application fees are generally paid before the application is processed.
The same arrangements apply throughout Iceland and are based on applicable legislation and fee schedules.
Payment is generally due when the application is submitted. The payment period is usually 5 to 10 days.
Payment arrangements at healthcare institutions depend on the service provided and who is responsible for payment.
Payment may be made:
directly when the service is provided
by invoice
through centralised collection
Payment claims for upper secondary schools are sent to:
a parent or guardian if the student is under 18
the student if they are 18 or older
Payments between government institutions are processed daily.
Due dates and final payment dates depend on the arrangements agreed between the institutions.
Fees for applications to District Commissioners are generally paid before the application is processed.
The same arrangements apply throughout Iceland and are based on applicable legislation and fee schedules.
Payment is generally due immediately when the application is submitted. The payment period is short, usually 5 to 10 days.