What are some physical features of Iceland?

What are some physical features of Iceland?

There are many long, deep fjords and glaciers, including Europe’s largest, Vatnajökull. Its landscape’s is characterized by waterfalls, geysers, volcanoes, black sand beaches and otherworldly steaming lava fields. Iceland has very mild, coastal weather, stemming from the Gulf Stream.

How long does it take to get tax refund from Iceland?

six to eight weeks

What type of tax is VAT?

consumption tax

What is VAT process?

A value-added tax (VAT) is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale. The amount of VAT that the user pays is on the cost of the product, less any of the costs of materials used in the product that have already been taxed.

How do you define VAT?

Value-added tax (VAT) is a type of indirect tax levied on goods and services for value added at every point of production or distribution cycle, starting from raw materials and going all the way to the final retail purchase.

Who pays value added tax?

VAT is assessed and collected on the value of goods or services that have been provided every time there is a transaction (sale/purchase). The seller charges VAT to the buyer, and the seller pays this VAT to the government.

Why is VAT needed?

VAT is one of the most important taxes for the government – after income tax and national insurance, it is the largest source of revenue for the government. It is estimated that the UK lost £1.5bn in 2017 alone, just through overseas online retailers not paying VAT in the UK.

How do you avoid VAT?

Avoid paying VAT – the legal way

1. Make your own sandwiches. You don’t pay VAT on most food stuffs, especially basic ingredients such as bread, salad, fruit and cheese.
2. Buy biscuits carefully.
3. Give books as presents.
4. Don’t buy drinks on the go.
5. Holiday overseas.
6. Make your own smoothies.
7. Buy kids clothes.
8. Buy from overseas sites.