On 13 March 2020, the parliament of Iceland has passed a legislation that provides for the postponement of tax payments. Legal entities are permitted to postpone the payment of half of the social security tax, that was originally due on 16 March 2020 to 15 April 2020. Legal entities are permitted to postpone the payment of half of the public levies on source, that was originally due on 16 March 2020 to 15 April 2020
Related Posts
Iceland approves budget bill for 2025
Iceland’s Budget Committee submitted the proposed amendments to the 2025 Budget on 15 November 2024 following its second parliamentary debate. The parliament approved the proposed amendments, incorporating them into the bill for the final round
Read MoreIceland proposes mileage tax on fossil fuel cars, doubles carbon tax
Iceland’s Ministry of Finance and Economic Affairs submitted a bill to parliament on 22 October 2024 proposing introducing a mileage tax on fossil fuel-powered vehicles. The bill aims to eliminate excise duties on fuels and vehicles while
Read MoreIceland consults tax law and excise duty changes
Iceland’s Finance and Economic Affairs Minister has proposed a draft bill for public consultation on 15 October 2024, putting forward various taxes and duties on lodging, VAT, income, state treasury income, public tax collection, alcohol, tobacco,
Read MoreBrazil, Iceland sign tax treaty
Brazil and Iceland have signed a new tax treaty on 14 October 2024. The agreement will introduce several key provisions, including a principal purpose test and a limitation on benefits clause. It also addresses fiscally transparent entities,
Read MoreIceland consults for 2025 budget bill
Iceland’s Budget Committee convened on 16 September 2024 to discuss the 2025 Budget Bill, which is now open for public consultation for comments until 3 October 2024. On 13 September 2024, the 2025 Budget Bill was approved in the parliament
Read MoreFTA between Iceland, Norway, Switzerland, Liechtenstein and Moldova enters into force
The free trade agreement (FTA) between Moldova and the European Free Trade Association (EFTA), which includes Iceland, Liechtenstein, Norway, and Switzerland, will take effect on 1 September, 2024. The agreement between the EFTA member states
Read More