Iceland: Threshold increases for VAT registration

The Icelandic Court of Appeals (Landsréttur) upheld the ruling of the District Court of Reykjavík in Iceland’s first transfer pricing case (No. 213/2025) on 19 February 2026.  The court confirmed that taxpayers must prove that related-party

Bosnia and Herzegovina’s Ministry of Foreign Affairs announced that officials from Bosnia and Herzegovina and Iceland held talks on 18 February 2026 to review bilateral relations. The meeting marked the start of preparations for negotiating an

The income tax treaty between Iceland and Saudi Arabia entered into force from 1 January 2025. Signed on 4 December 2024, the agreement aims to prevent double taxation and is expected to encourage trade and investment by addressing tax

The OECD has published the revised transfer pricing country profiles, including profiles for Bosnia and Herzegovina, Brazil, Costa Rica, Croatia, Greece, Iceland, Korea (Rep.), and Norway on 22 January 2026. These profiles focus on countries'

Iceland’s tax authority, the Revenue and Customs, has published a notification regarding the annual filing of the Country-by-Country (CbC) report on 25 November 2025. Pursuant to Act no. 90/2003 on income tax, entities subject to

Iceland’s tax authority, the Revenue and Customs, has released the key rates and amounts for 2026, detailing changes to corporate tax, VAT, and personal income tax. The rate changes are as follows: Corporate tax rate changes Income