Financial Management Authority
Payments
Invoices are paid daily.
Once an institution has approved an invoice, it is paid on the final payment date according to Treasury payment terms.
Municipal income tax is paid to municipalities daily.
Payments to farmers are generally made once a month, on the last business day of the month.
If the last business day falls on a Friday, payment is made the day before.
Church and parish fees are paid once a month.
Kilometer fee on vehicles is assessed monthly based on estimated average driving distance.
Assessments and adjustments are made each month.
Individual income tax is assessed after the tax return has been submitted. 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
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.