7 years

The Iceland government announced that issuing and processing electronic invoices between businesses and public entities is mandatory from 2020. For B2B transactions issuing e-Invoice voluntarily however receiver’s consent is required. Iceland is one of the Peppol authorities. 

Peppol network facilitates the exchanging of electronic account documents between the supplier and receiver.

The VAT returns must be filed online to the tax authority. A foreign tax identification number must be added to the tax form.