From Iceland — Taxes Significantly Lowered On E-Books And Music

Taxes Significantly Lowered On E-Books And Music

Published September 2, 2011

Iceland could be just days away from lowering the taxes on e-books and music sold online.
Vísir reports that the Economics and Tax Committee has completed a bill to be submitted to parliament that would lower taxes on e-books and online music from 25% to just 7%.
This would also mean that foreign parties selling e-books or music online to Icelandic consumers would be required to submit 7% of their earnings.
Committee chairman Helgi Hjörvar told reporters, “This means that taxes on new media is lowered, both for reasons of equality and to help encourage the spread of e-books and make them more accessible.”
Helgi also said there was cross-partisan support for the bill, with MPs from every party signing onto the bill.
Online music store Gogoyoko celebrated the news, writing on Facebook: “For many years the taxes on CDs have been 7% but on online music, 25%. This has been very unfair, but it will hopefully be corrected now. It is in the best interests of consumers, producers, composers, musicians and salespeople alike.”
A final vote on the matter is still pending.

Support The Reykjavík Grapevine!
Book your day tours in Iceland right here!


Go travel with Grapevine tried and recommended tours by Grapevine. Fund Grapevine journalism by booking with us.

Show Me More!