30 April 2018
From 1 January 2019, Iceland’s Ministry of Finance and Economic Affairs will reclassify electronic books as zero-rated for Value Added Tax.
E-books are currently subject to the reduced VAT rate of 11% in Iceland, however as Iceland is not a member of the European Union (EU) they can decide their own VAT rates which has allowed them to scrap this VAT charge altogether.
EU countries do not have this privilege and are currently obliged to charge the full standard VAT rate on e-books, this is despite printed books of the same matter enjoying the right to a reduced or zero rate of VAT.
LATEST NEWS
Separate EORI number for Northern Ireland required
HMRC have recently confirmed that businesses who import and export goods from Northern Ireland (NI) will need a special Economic Operator Identification Number...
SEE MORE
LATEST NEWS
Belgium force UK companies to engage a fiscal...
The Belgium tax authorities are contacting UK traders who hold a Belgium VAT account to inform them that they have a requirement to appoint a fiscal...
SEE MORE
LATEST NEWS
Fiscal representation not required in France for UK...
The French tax authorities have confirmed that UK businesses will not have a requirement to engage a fiscal representative when the Brexit transition period...
SEE MORE