TAX-FREE SHOPPING IN REYKJAVIK AND ICELAND
A refund of local Value-Added Tax (VAT) is available to all visitors in Iceland.The refund will result in a reduction of up to 15% of the retail price, provided departure from Iceland is within 3 months after the date of purchase.
The purchase amount must be no less than ISK 4,000 (VAT included) per store.All goods (except woollens) need to be shown at customs before check-in.At Keflavík airport this applies only to tax-free forms whose refund value exceeds ISK 5,000.
All other forms can be refunded directly in cash at Landsbanki Íslands in the departure hall, or click here or furhter Information
Icelandic Customs information about VAT refund
Euro Refund, Information about Tax-Free Shopping in iceland