Taxation in Iceland

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One of the world’s hottest and most expensive holiday destinations could soon become a little more expensive. Overwhelmed by a record number of visitors in spite of its far-flung location, Iceland’s government is considering ways of raising taxes in the tourism sector. The alternative would be to limit sightseers’ access to the country’s most popular […]

Iceland’s parliament has approved a boost to the country’s film production tax incentive, increasing it from 20% to 25%.

Iceland is to introduce a hefty 39 per cent exit tax on assets from its failed banks starting next April as part of moves to lift capital controls imposed after the tiny island nation’s economy collapsed seven years ago.

Iceland is planning to move forward with removing capital controls and imposing a “stability tax” on the estates of its failed banks as early as June, Prime Minister Sigmundur David Gunnlaugsson said.

Iceland’s plan to impose an exit tax on hedge funds and other investors that bought claims against its failed banks is part of a “viable” model to end its six-year-old capital control regime, the International Monetary Fund said.

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