A payment plan is a schedule for payment of taxes, fees and fines. The plan is made in order to lighten the payment burden and postpone collection measures. Thus, the payment schedule is not a contract for the reduction or cancellation of claims, but rather shows how claims due shall be paid by means of distribution of payments.
Up until now, taxpayers have had to contact the Treasury collector to prepare a payment plan, but as a part of new digital services taxpayers can now prepare a self-service payment plan and thus take advantage of making a payment plan when it suits them.
Conditions for self-service payment plans:
Self-service is only open to those who owe newly levied taxes
For individuals, the total amount owed can be up to 2.000.000kr.
For companies, the total amount owed can be up to 10.000.000kr.
A payment schedule can only be made for the reduction of wage deductions due to council and municipal fund fees.
A payment plan on Island.is can only be made if the tax return and remittance forms have been submitted on time. Additionally companies must have submittied their annual accounts.
It is not possible to make an online payment plan for claims that are subject to enforcement measures
Not all tax types can be paid with a payment plan.
Taxpayers who are unable or do not want to prepare a self-service payment plan are advised to contact the Treasury collector to prepare a payment plan.
Service provider
Iceland Revenue and Customs