From Iceland — No Increased Tax For Tourists

No Increased Tax For Tourists

Published June 9, 2013

The new government has put forth four new bills to be discussed when parliament meets on Tuesday, with one proposing some good news for would-be tourists in Iceland.
Minister of Finance and the Economy Bjarni Benediktsson has tabled a bill reversing the proposed VAT increase on accommodation. If the bill is successful the VAT will remain at 7% rather than increasing to the previously agreed upon 14%, RÚV reports.
Maintaining the 7% VAT level will lead to a loss of 500 million ISK in revenue and a budgetary deficit. It is assumed that this loss will be made up for in increased tourism. You know what they say about assuming…

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