virðis

Virðis is a term from the Icelandic language. It is the genitive singular form of virði, which means value, worth, or price. In practice, virðis functions mainly within compounds or possessive expressions rather than as a standalone noun in everyday speech.

In modern Icelandic, virðis is most recognizable in technical or administrative vocabulary. A prominent example is virðisaukaskattur, meaning value-added tax (VAT). In such compounds, virðis contributes the sense of value or worth that is being measured or taxed, while the remaining components specify the type of value or the related concept.

Etymology and related forms: virði derives from Old Norse and is related to the broader Nordic terms for value, such as Danish værdi and Swedish värde. The genitive form virðis appears when virði is used to indicate possession or association with another noun in compound constructions.

Usage notes: virðis is not commonly used as an independent noun in everyday Icelandic; instead, it is embedded in compound words that denote value-related concepts. For readers encountering the term in Icelandic financial or administrative texts, virðis often signals the value aspect of the subject under discussion, with the surrounding elements specifying the precise notion (for example, taxation, valuation, or pricing).

See also virðing (respect) and verð (price/value).