A lot of stores in Iceland bear this sign which means you can get all tax repaid.

A lot of stores in Iceland bear this sign which means you can get all tax repaid.

There is hardly a soul on the whole planet not looking for ways to save money or make more money in one way or another. Should you find yourself suddenly shopping your wits away while visiting Iceland you could save a hefty sum by claiming tax free entitlements before you leave.

This is mostly intended for larger purchases when you buy for more than 4000 ISK, roughly 26€ or 35$, at any one time. If that particular shop offers tax free ask for the tax free receipt when making the purchase. That receipt you will present when leaving the country at the tax-free office in Keflavik international airport and get the refund minus some administrative costs. Their office is located on the second floor of the Keflavik airport terminal. Keep in mind you will have to get a customs stamp in the departure hall of the airport for any major purchases above 5000 ISK before handing in your receipts.

This can certainly add up since the tax rate on most stuff in Iceland is around 25 percent. You can thus, in essence, get a 25% discount on everything in every store participating in the tax-free scheme. Hefty savings when buying expensive stuff and can actually mean Iceland being relatively cheap for shopping as opposed to expensive.

Tax free logo is usually well advertised in participating stores. Two companies offer the service: Iceland refund and Global refund.

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