- The Icelandic Ministry of Finance and Economic Affairs implemented Regulation 505/2013 and Regulation 44/2019 to regulate electronic billing and accounting.
- The regulations mandate public entities to accept electronic invoices compliant with EN 16931.
- The city of Reykjavík and the Icelandic Accounting Authority have also declared their acceptance of electronic invoices.
- The Directive 2014/55/EU has been transposed, with a one-year grace period for non-central entities.
- The use of UBL 2.1 and CII standards is fully implemented, and the Peppol eDelivery Network is used as the platform.
- The Peppol BIS Billing 3.0, including seller country rules relevant for Iceland, is also used.
- The regulations stipulate the requirements for content and transmission of eInvoices to ensure authenticity and traceability as required by tax and accounting legislation.
Source ec.europe.eu
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
