Iceland: ERP localization
Region: Nordics · Key facts · VAT · Partners · Local ERPs
Key facts
| Fact | Value | Status / source |
|---|---|---|
| Currency | Iceland Krona (ISK) | verified [1] checked 2026-10-16 |
| VAT / GST | VSK (virðisaukaskattur) – 24% general, 11% reduced | verified [1] checked 2026-10-16 |
| E-invoicing | No B2G, B2B or B2C e-invoicing mandate (EU 2026 country sheet); B2G exchange via the Peppol network | verified [1] checked 2026-10-16 |
| Statutory accounts / chart of accounts | Not yet researched | unverified |
| Fiscal year | Not yet researched | unverified |
| Payroll localization | Not in Odoo's payroll localization list (other ERPs not yet checked) | verified [1] checked 2026-10-16 |
| Language requirements | Not yet researched | unverified |
| Tax authority | https://www.skatturinn.is/english/ | verified [1] checked 2026-10-16 |
| Business Central localization | Localized by Microsoft | verified [1] checked 2026-10-16 |
| Odoo fiscal localization | Not in Odoo's fiscal localization list | verified [1] checked 2026-10-16 |
| NetSuite country help | No country help topic listed by Oracle (may still be covered by region-specific SuiteApps or partners) | verified [1] checked 2026-10-16 |
Facts are summarised from official or vendor sources; "unverified" means no source was confirmed yet. Not tax or legal advice.
VAT / GST facts
| Fact | Value | Verification / source |
|---|---|---|
| VAT name | VSK (virðisaukaskattur) | secondary www.avalara.com checked 2026-10-16 |
| VAT standard rate | 24% | official www.skatturinn.is checked 2026-10-16 |
| VAT reduced rates | 11% | official www.skatturinn.is checked 2026-10-16 |
| VAT registration threshold | Residents: taxable turnover above ISK 2 million in 12 months. Non-residents: no threshold; registration generally due from the first taxable supply. | secondary www.avalara.com checked 2026-10-16 |
| VAT filing frequency | Every two months. | secondary www.avalara.com checked 2026-10-16 |
| VAT non-resident / reverse charge | Not stated in the sources checked | — |
Summarised in our own words. official = confirmed on a government or EU Commission page; secondary = taken from a published country VAT guide and not yet confirmed officially. Thresholds and filing rules change; always confirm with the tax authority. Not tax advice.
Localization partners & apps
No source-checked partner or app recorded yet.
Local ERPs & accounting systems
| System | Segment | Description | Website | Status |
|---|---|---|---|---|
| dk hugbúnaður | SMB | Accounting and business software | www.dk.is | verified site checked 2026-10-16 |
| Regla | Small business | Cloud bookkeeping and business system | www.regla.is | verified site checked 2026-10-16 |
Alphabetical; significant domestic or regional systems, described from their official sites. Not exhaustive and not a ranking.
Localisation via local partner
| ERP | Flag | Note | Source |
|---|---|---|---|
| Odoo | local partner / add-on | No fiscal localization package in Odoo's official list; usually localised through a local partner or community module. | verified [1] checked 2026-10-16 |
| NetSuite | limited native / partner | Oracle lists no country-specific NetSuite help topics; localisation usually through partner SuiteApps or add-ons (region-specific SuiteApps may still apply). | verified [1] checked 2026-10-16 |
| SAP S/4HANA Cloud | local partner / add-on | No SAP-delivered country version listed; usually localised through a partner add-on. (SAP list of S/4HANA Cloud public edition country versions, v02_2024.) | verified [1] checked 2026-10-16 |
Flags are derived from vendor country lists only (Microsoft Business Central availability table, Odoo fiscal localizations, Oracle NetSuite country help, SAP S/4HANA Cloud country versions). SAP S/4HANA Cloud flags use the SAP country-version list (v02_2024). Sage Intacct, Workday, Unit4 and IFS are not flagged yet.
VAT & tax reporting
No requirement recorded yet for this country – unverified.
All countries: VAT & tax reporting
SAF-T
No requirement recorded yet for this country – unverified.
The ERP-by-ERP e-invoicing matrix does not cover this country yet; see tracked countries.
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