Value Added Tax… Perks?

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You Are Here:Value Added Tax… Perks?

When I visited Iceland back in November, I did a decent amount of souvenir shopping. Christmas was coming up plus nobody else I knew had ever been there, so I tried to include as many friends and family members as I could afford. (Note: Iceland is expensive so… I couldn’t actually afford that many people… lol) But I remember being given an envelope with one of my receipts at a gift shop in Vik and thinking “Oh, aren’t they formal with their receipts?” lol. Come to find out, I had spent a qualifying amount so I was eligible to receive a tax REFUND upon departure.

Say what!?

That’s right, folks. There is a value added tax assessed to everything you purchase BUT if you spend ISK 6,000 – 6000 Icelandic krona or at little less that $60 USD  – on any one receipt, you can submit it to the bank at the airport and receive cash or a refund back to your card. I had completely forgotten about the 2 receipts I submitted before boarding my flight until yesterday when 2 deposits from Premier Tax Free ISK hit my account.

I was like Heeyyyyyy $24.01!

via GIPHY

Its not a million dollars but it IS almost a full tank of gas so Thank Ya!

All of the shops have the proper envelops and signage available to anyone who qualifies so if you are planning to visit Iceland, be sure to keep up with your receipts as you go and submit before your departing flight. The Keflavik Airport is very helpful with this process as well. There are several reminder signs as you enter the doors and the actual refund line was very quick and efficient.

If you’ve been before, did you get know about the VAT refund?

Are you planning a trip to Iceland soon? You can check out the Keflavik Airport site here for more info on this tax and refund process.

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