Tax Return Filing
Written in plain language for general understanding. This is educational content, not legal advice. Based on Icelandic Acts of the Althingi, statutory instruments, and official guidance.
Icelandic National Law
What is this right?
All taxpayers in Iceland must file an annual tax return:
- Filing deadline: Mid-March of the year following the income year (e.g., March 13, 2026 for 2025 income). Extensions of up to 5 days may be granted.
- Pre-filled returns: RSK provides a pre-drafted return with salary, real estate, vehicles, bank accounts, and debt data pre-populated. You confirm or correct it.
- Late filing penalty: A surcharge of up to 25% on estimated additional tax when no return is filed.
- Assessment timeline: Final assessments are generally completed by May 31 of the assessment year.
- Payment of balance: Additional tax owed is divided into 7 due dates. Overpayments are refunded.
- Right to amend: You can file amended returns to correct errors or omissions.
When does it apply?
- You are domiciled in Iceland and received taxable income during the previous year.
- Even if your return is pre-filled, you are responsible for its accuracy.
What should you do?
- Review the pre-filled return carefully — check for missing income, incorrect deductions, or outdated information.
- Submit electronically through the Skatturinn (RSK) portal.
- If you discover an error after filing, submit an amended return as soon as possible.
What should you NOT do?
- Don't miss the March deadline — the 25% surcharge on estimated tax is significant.
- Don't assume the pre-filled return is always correct — you are legally responsible for its accuracy.
- Don't discard records — retain all supporting documents for at least 6 years.
Legal Resources
We may earn a commission if you use these services — at no extra cost to you. This supports our mission to make legal information free for everyone.