Payroll in Iceland

Expand into Iceland with a Global Payroll Provider

  • Leverage our experience and ensure in-country Payroll compliance.

  • A single, centrally managed payroll system that delivers a fluid and consistent service to you and your employees.

  • A dedicated team and account manager so that you always have a central point of contact.

  • Pay every employee accurately and on time.

Hiring in Iceland

Famous for its unique landscapes, geothermal activity (Many air travellers will remember a certain Icelandic volcano!) and a football team which regularly overachieves, this small European island nation of around 270,000 people always seems to be the underdog.

Looking for a payroll solution in Iceland?

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Long part of Denmark, Iceland gained independence as a Kingdom in 1918 and has since developed an economy based on fishing and aluminium mining and production. Iceland is the world’s 7th most productive country per capita.

Iceland’s workforce has access to some of the most flexible and favourable working agreements in the world, with an open labour market and established employment law and worker’s rights. Hiring in Iceland made favourable thanks to a highly educated and skilled workforce, many of whom speak multiple languages including English (English lessons are mandatory in schools and up to 88% of Icelanders speak English).

Why use TopSource Worldwide in Iceland?

We free your teams from the burden of managing payroll across borders, working diligently to ensure a seamless process across all activities.

We’ll manage the data flow from you to every local market and will return data to you in a readable format for each of your key teams, including payroll journals if needed.

Our services combine process excellence with a human-centric approach, and our top priority is always the care and compliance of your payroll — no matter where in the world you operate.

  • Leverage our experience and ensure in-country Payroll compliance.
  • Reduce processing and back office time.
  • Align processes, reducing complexity and risk
  • A single, centrally managed payroll system that delivers a fluid and consistent service to you and your employees.
  • Flexibility of service — adapting to your needs, regardless of the market.
  • The option to work with other providers you already have in place, if needed.
  • Global HR data management and data tracking where required.
  • Global payments support for both employees and authorities.
  • A dedicated team and account manager so that you always have a central point of contact

What TopSource Worldwide provides in Iceland

  • Simplicity – we provide one monthly consolidated invoice for the services provided inclusive of salaries, taxes, fees and employee expenses. This reduces banking costs and your finance teams time spent.
  • One point of contact – a single Account manager looking after all your Payroll.
  • Compliance – all funds payable to the employee are processed through payroll. You receive monthly evidence of taxation paid to the competent authorities in country.
  • All services are provided by in-country experts that are professionally qualified in their respective fields.
  • Electronic payslips for all employees.
  • All Statutory filing completed by TopSource Worldwide.

We appreciate each situation and business is different. That is why we offer a consultative and bespoke solution to every client. We know one size does not ‘fit all’.

Find out about outsourcing your payroll in…

Published date: 1st Feb 2022
Review date: 1st Feb 2023