Iceland-United Kingdom: Ratified the tax treaty

The UK government has launched a consultation on suspending tariffs on more than 100 everyday essentials and has confirmed an increase in mileage rates for workers using their own vehicles for business use. The package, published by HM Treasury

The UK HM Revenue & Customs (HMRC) has revised its guidance outlining the statutory requirements for the Disclosure of Tax Avoidance Schemes (DOTAS) regime on 29 May 2026. The Disclosure of Tax Avoidance Schemes (DOTAS) regime is designed to

The UK has updated its list of recognised jurisdictions and taxes under the Pillar Two framework, adding four jurisdictions to its recognised Qualified Domestic Minimum Top-up Tax (QDMTT) and accredited QDMTT safe harbour lists while revising the

The Government of Iceland has approved a new industrial policy that sets out a long-term vision for economic growth, productivity, and competitiveness to 2035. The policy is intended to support sustainable economic development and create a more

The UK HM Revenue & Customs (HMRC) has issued a policy paper outlining proposed changes to the tax treatment of foreign permanent establishments, also known as foreign branches on  21 May 2026. For most companies, it will be mandatory for

The UK announced on 21 May 2026 a temporary reduction in value-added tax (VAT) for tourist attractions and related services from 25 June 2026 to 1 September 2026, aimed at supporting families and the hospitality sector amid rising energy costs