It is the current local time right now in Reykjavík, Kópavogur, Hafnarfjörður, Akureyri, Garðabær and in all Iceland’s cities. 
Iceland’s time zone: GMT or UTC+00:00

No daylight saving time (DST) in Iceland.

Full name: Iceland
Continent: Europe
Region: Northern Europe
Population: 308,910
Area: 103,000 km²
Capital: Reykjavik
Currency: Krona (ISK)
Phone code: 354
Domain: .is
Wikipedia article: Iceland