Key facts
- Currency
- ISK (ISK)
- Import VAT/GST
- VAT 24%
- De minimis
- No duty up to ISK 0; tax always charged
- Customs tariff
- Own national tariff
Summary
Iceland charges VAT on imports at a standard rate of 24%. Since 1 January 2024, consignments with a customs value of up to ISK 0 pay no customs duty. Iceland uses ISK as its currency.
Currency and customs tariff
Iceland uses ISK as its currency.
Import VAT and other taxes in Iceland
Iceland charges VAT on imports at a standard rate of 24%.
De minimis in Iceland
Since 1 January 2024, consignments with a customs value of up to ISK 0 pay no customs duty. Import tax is charged whatever the value.
What changed recently
The newest release on this page, the de minimis thresholds for Iceland, went live on border.bot on 13 October 2026.
Frequently asked questions
What currency does Iceland use for customs?
Iceland uses ISK as its currency. Its de minimis thresholds are stated in ISK.
What is the VAT rate on imports into Iceland?
Iceland charges VAT on imports at a standard rate of 24%.
What is the de minimis threshold in Iceland?
Since 1 January 2024, consignments with a customs value of up to ISK 0 pay no customs duty. Import tax is charged whatever the value.
Sources and updates
The import taxes for Iceland come from border.bot release 1 (edition reference snapshot), imported from a file, and have been live since 13 October 2026.
The de minimis thresholds for Iceland come from border.bot release 1 (edition reference snapshot), imported from a file, and have been live since 13 October 2026.
This page was last updated on 13 October 2026.
Guidance from published tariff data, not a binding ruling. For a decision customs must follow, apply to the destination’s customs authority for a binding tariff ruling.