Iceland Expat Tax Withholding
June 2023Income from 0 – 409,986 ISK per. month: 31.45%
Income exceeding 1,151,012 ISK per month: 46.25%
Children on income exceeding 180,000 ISK per year: 6%
Personal tax credit per month: 59,665
Personal tax credit per year: 715,981
Iceland Georgia Tax Treaty
June 2015Iceland and Georgia signed on May 13, 2015 a double tax treaty, DTA.
According to the DTA the tax withholding rates will be 5%/10% for dividends, depending on the percentage of holding by the recipient, and 5% for payments of interest and royalties.
Iceland 2015 V.A.T. Rate
January 2015Starting January 1, 2015 the V.A.T. rate in Iceland is reduced from 25.5% to 24%.
Iceland Switzerland Tax Treaty
August 2014Iceland and Switzerland signed on July 10, 2014 a new protocol replacing the existing 1988 tax treaty between the two countries.
According to the new tax treaty the tax withholding rates will be 0%/15% on dividend and 0%/5% on royalties.
Interest will be taxed only in the recipient's state of residence.
Iceland's New Corporate Tax Rate
February 2011Starting January 1, 2011 Iceland's new corporate income tax rate is 20% compared to the 18% corporate tax rate in 2010.
Note: The information in this site is for general guidance only. Users of this site are advised to take professional advice before taking practical tax decisions.
Please read our terms of service before entering this site.