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    Global Daily Tax News, Iceland Removing VAT Reliefs For Electric Vehicles, (Nov 30, 2023)

    The Icelandic tax agency has confirmed that tax relief measures for the purchase of electric modes of transport will be allowed to expire at the end of the year.

    The measures include a waiver of VAT on importation and a waiver of VAT on the first sal ...

    The Icelandic tax agency has confirmed that tax relief measures for the purchase of electric modes of transport will be allowed to expire at the end of the year.

    The measures include a waiver of VAT on importation and a waiver of VAT on the first sale, up to certain value caps. They apply to electric and hydrogen vehicles and electric bikes and mopeds.

    The tax agency has confirmed that the existing value-added tax rules will apply to payments made towards domestically available vehicles before January 1, 2024, even if they are delivered in the new year. The tax reliefs will not apply to imports with effect from January 1, 2024.

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