grossverð

Grossverð is the total price charged for a good or service to a buyer, including mandatory taxes and any other charges due at the point of sale. In Icelandic commerce, grossverð corresponds to the amount a consumer pays when tax and fees are included, as opposed to the base price before tax. The concept is commonly contrasted with netverð, the price before value-added tax (VAT) and other charges.

In practice, several Icelandic terms are used to describe related values. Netverð refers to the price without VAT. Verð með virðisaukaskatti or bruttóverð are phrases used for the price including VAT, effectively synonyms for grossverð in everyday usage. Price displays and invoices may present grossverð to consumers, while businesses often quote netverð and indicate the VAT to be added.

Application and implications: grossverð is the amount that typically appears on receipts and consumer-facing price tags. For accounting, businesses may separately track netverð and VAT to calculate tax liabilities. Some jurisdictions require that the gross price be clearly displayed to consumers, ensuring transparency about the total cost.

Example: If the netverð of a product is 1,000 ISK and VAT is 24%, the grossverð would be 1,240 ISK, assuming no additional charges. Shipping, handling, or import duties may be listed separately or included in grossverð depending on the sale terms.

See also: netverð, bruttóverð, virðisaukaskattur.