Tax Changes Effective November 1, 2017 |
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The following tax changes will go into effect on November 1, 2017:
- Iceland: Icelandic law requires remote sellers of digitally-supplied services to Icelandic consumers to register and collect VAT. The legislation also mandates that certain operators of Marketplace Platforms and Services (like Microsoft Store) undertake to collect and remit VAT for sales of services on their respective platforms.
On November 1, 2017, Iceland will become a Microsoft tax remittance country where Microsoft (or its billing service provider) will collect and remit VAT on behalf of Microsoft Store developers. Effective November 1, 2017, Microsoft will determine the VAT due, withhold such VAT from your App Proceeds, and remit such VAT directly to the Icelandic tax authorities. The current VAT rate in Iceland is 24%.
Since these changes may impact pricing and payments related to apps published in the Microsoft Store, we encourage you to review section 6 of the App Developer Agreement.
Microsoft Store Team |
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