Tax & Accounting Blog

Iceland Plans to Raise VAT on Accomodations in 2013

Indirect Tax, ONESOURCE, VAT Tax Rates August 16, 2012

The government of Iceland has announced plans to increase the VAT rate on tourist accommodations from 7%  to 25.5% beginning May 2013. The increase will make VAT on accommodations in Iceland the highest in Europe. The plan has received harsh criticism from the Icelandic tourism industry.


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