Frequently asked questions

What is Fustle?

Fustle is an all-in-one platform for freelancers and contractors in Iceland. We invoice your clients, collect payment, calculate taxes and pension, and pay you net salary — without you needing your own company.

What do I need to sign up?

An Icelandic kennitala, bank account, and electronic ID (rafræn skilríki). No company registration required.

Is there a monthly subscription?

No. Fustle is pay-as-you-go: 4.49% + VAT per paid invoice, capped at 16,900 ISK + VAT per month. If you don't invoice, you pay nothing.

How do I create an invoice?

Log in, click New Invoice, enter client and amount details, and send. We handle VAT, compliance, and collection.

Can I send unlimited invoices?

Yes. After you hit the monthly fee cap, additional invoices that month are free.

What if my client doesn't pay?

We help with reminders and follow-up. Unpaid invoices can be escalated per our terms.

How does Fustle handle taxes?

We calculate income tax, tryggingagjald (6.35%), mandatory pension (12–15.5%), and VAT where applicable. We report and remit to Skatturinn and your pension fund.

Do I need a VAT number?

You must register for VAT before cumulative turnover reaches 2,000,000 ISK in 12 months. We guide you through registration.

What is calculated remuneration (reiknað endurgjald)?

It's the legal framework for paying yourself from contractor income. Fustle applies it automatically — see our guide for details.

When do I get paid?

Same business day once your client pays the invoice — net salary deposited to your bank account.

Are there payout fees?

No separate payout fees. Only the Fustle service fee (4.49%, capped monthly) applies.

Can I use the calculator?

Yes — our income calculator shows estimated take-home after taxes, pension, and fees for 2026 rules.