The 3 steps are Choose table, Choose variable and Show result. You are currently at Choose variable

Turnover of selected activities, by year and VAT-rate, 2008-

Choose variables

About table

Contact

Statistics Iceland

Latest update

2/21/2024

Unit

ISK million

Reference time

2008-

Matrix

FYR04112

Now you have come to the page, Choose variable. This page give you the oportunity to select which variables and values you want to display in your result of the table. A variable is a property of a statistical unit. The page is divided into several boxes, one for each variable, where you can select values by click to highlight one or more values. It always starts with the statistics variable which is the main value counted in the table.

Activity Mandatory

Beginning of word

Field for searching for a specific value in the list box. This is examples of values you can search for.Total business economy excluding financial and insurance activities (NACE rev. 2: 03-63, 68-82, 95-96) , Production (total) (NACE rev. 2: 05-33 except 102, 41-43, 58-63, 71-72) , - whereof high and medium high technology manufacturing; and knowledge intensive high technology services (NACE rev. 2: 20-21, 254, 26-30, 325, 58-63, 71-72) ,

Selected 0 of total 29

VAT-rate Mandatory

Selected 0 of total 4

Year Mandatory

Beginning of word

Field for searching for a specific value in the list box. This is examples of values you can search for.2008 , 2009 , 2010 ,

Selected 1 of total 16

Number of selected data cells are:

(maximum number allowed is 100,000)

Presentation on screen is limited to 10,000 rows and 100 columns

Number of selected cells exceeds the maximum allowed 100,000

Footnotes

Preliminary figures. Turnover in million ISK, without VAT according to VAT-returns. The data covers all taxable turnover and turnover from export of taxable goods and services which is exempt from VAT according to paragraph 12 of the Act on VAT (50/1988). Turnover from activities that are exempt from VAT according to paragraph 2 of the VAT laws (e.g. healthcare, education, financial services, insurance) is not included in these figures. The data covers all sales of goods and services that are VAT taxable, regardless if it is a sale to final use or for resale. For each company, the turnover is classified according to the company's main economic activity. Economic activity is classified in accordance with ÍSAT2008, the Icelandic version of NACE rev. 2. Since January 2016 some activities are not exempt from VAT according to paragraph 2 of the VAT laws any more, e.g. travel agencies and some passenger services.

Activity

Tourism industries in Iceland (NACE rev. 2: 491, 4932, 4939, 501, 503, 511, 5223, 551-553, 561, 563, 771, 7721, 79, 9604)

Previously, statistics on tourism industries were based on Eurostat's definition of tourism. Now, two activities been added to provide statistics that better reflect the tourism industries in Iceland:
H5223: Service activities incidental to air transportation
S9604: Physical well-being activities, including geothermal spas

VAT-rate

Total

Some services are exempt from VAT, e.g. public transport, medical services, athletic activities, museums, postal services, and lotteries. The suppliers of such services cannot charge VAT or get credit for input VAT on purchases for the exempt business.
Deitaled information on VAT can be found at the Icealand Revenue and Customs.

Zero VAT-rate (exports)

A zero-rated supply falls within the scope of the VAT Act, but no output VAT is charged since the rate is zero. This category includes export of goods and services and contractual payments from the Treasury regarding milk production and sheep farming.

Lower VAT-rate

The lower VAT-rate is now 11%. Examples of goods and services in this category include: books, newspapers, house-heating, food, restaurants, accommodation services, and domestic passenger transport (excluding public transport). Alcoholic beverages are subject to the lower VAT-rate since 1 January 2016.

Standard VAT-rate

The higher VAT-rate, or standard rate, is now 24%. All goods and services are subject to this rate unless otherwise specified in the law Act on VAT (50/1988).

Total business economy excluding financial and insurance activities (NACE rev. 2: 03-63, 68-82, 95-96)
Production (total) (NACE rev. 2: 05-33 except 102, 41-43, 58-63, 71-72)
- whereof high and medium high technology manufacturing; and knowledge intensive high technology services (NACE rev. 2: 20-21, 254, 26-30, 325, 58-63, 71-72)
- whereof construction (NACE rev. 2: 41-43)
- whereof other production, excluding fish processing (NACE rev. 2: 05-19 except 102, 22-25 except 254, 31-33 except 325)
High and medium-high technology manufacturing (NACE rev. 2: 20-21, C254, C26-30 except 301, C325)
Knowledge-intensive high technology services (NACE rev. 2: 59-63, 72)
Computer related services (NACE rev. 2: 582, 62, 631)
Information sector (NACE rev. 2: 581, 59-60, 639)
information and communications technology (ICT) total (NACE rev. 2: 261-264, 268, 465, 582, 61-62, 631, 951)
Tourism industries in Iceland (NACE rev. 2: 491, 4932, 4939, 501, 503, 511, 5223, 551-553, 561, 563, 771, 7721, 79, 9604)
Fisheries (NACE rev. 2: 031, 102)
Aquaculture (NACE rev. 2: 032)
Processing and preserving of meat and production of meat products (NACE rev. 2: 101)
Aluminium production (NACE rev. 2: 2442)
Sale of motor vehicles (NACE rev. 2: 451)
Wholesale of solid, liquid and gaseous fuels and related products (NACE rev. 2: 4671)
Wholesale of wood, construction materials and sanitary equipment (NACE rev. 2: 4673)
Wholesale of hardware, plumbing and heating equipment and supplies (NACE rev. 2: 4674)
Supermarkets and convenience stores (NACE rev. 2: 47111)
Retail sale of hardware, paints and glass in specialised stores (NACE rev. 2: 4752)
Retail sale of clothing, footwear and leather goods in specialised stores (NACE rev. 2: 4771-4772)
Dispensing chemist in specialised stores (NACE rev. 2: 4773)
Book publishing (NACE rev. 2: 5811)
Motion picture, video and television programme production activities (NACE rev. 2: 5911)
Computer programming activities (NACE rev. 2: 6201)
Architectural activities (NACE rev. 2: 7111)
Engineering activities (NACE rev. 2: 71121)
Renting and leasing of cars and light motor vehicles (NACE rev. 2: 7711)