- Icelandic Directorate of Internal Revenue issued guidelines on taxable activities of podcasters
- Requirement to declare all podcast income and apply VAT if income exceeds 2 million Icelandic Krona in 12 months
- Applicable VAT rate of 24 percent on podcast-related sales
- Examples of taxable podcast income provided
- Tax treatment of non-monetary income based on current or market value
- Criteria for determining if podcast activities are a commercial operation, including regular profit-driven activities allowing expense deductions on income tax return
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
