- Icelandic legislation requires all public entities to be able to receive and process electronic invoices (eInvoices) based on the Peppol BIS Billing 3.0 through Regulation 44/2019.
- National regulation 505/2013 stipulates the requirements for content and transmission of eInvoices for both public and private organisations.
- The eInvoicing platform used in Iceland is the Peppol eDelivery Network. B2G authorities are mandated to receive and issue electronic XML invoices, with 92% of B2G received invoices being electronic. eInvoicing has not been implemented at the sub-central level.
- The European Standard on eInvoicing (EN) is fully implemented through Peppol BIS Billing 3.0, with additional country rules applicable to domestic trade.
- There is no specific national eInvoicing strategy, but eInvoice data is collectively used by the Central Procurement Agency for analysis and preparation of procurement contracting. E-invoicing is not currently used for Valued Added Tax (VAT) digital reporting in Iceland.
Source ec.europa.eu
