taxes
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Gig While Keeping On The Tax Man’s Good Side
The Útlendingur’s ongoing guide to getting shit done Life in Iceland is very expensive. While nothing here has never been affordable, news circulated at the close of 2024 that the cost of groceries was set to increase by 30%, while the cost…
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New City Council Partnership Agreement Addresses Several Issues
The new Reykjavík city council majority has officially been announced. Comprised of the Social Democrats, the Progressive Party, the Pirate Party and the Reform Party, Dagur B. Eggertsson of the Social Democrats will be mayor until 2024, followed by Einar Þorsteinsson of…
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Suspicions Of Severe Tax Violations Related To Airbnb
Airbnb provides a platform for people to rent out to tourists various accommodations, such as apartments, cottages, and more. Data from the site was obtained by the Director of Tax Investigations and has led to suspicions of large-scale tax violations by Icelanders.…
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New Government Budget Makes Provisions To Reduce Carbon Emissions In Iceland
The Icelandic government has just approved a new government budget for the years 2019 to 2023 stipulating that the carbon tax on petrol prices will increase by 10% within next year, and by another 10% by 2020, Vísir reports. At the beginning…
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Cannabis Production Takes Over Reykjavík
Thanks to a new reportage that explored the extent of the cannabis network in the capital area, RÚV reporters found out that cannabis growth and production carried out in the city has now almost completely overtaken foreign imports. According to data provided…
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Supreme Court Confirms 76% Toll On Imported French Fries
Like it or not, the highest court in Iceland has confirmed that the government can place a 76% toll on imported French fries. Iceland’s Supreme Court confirmed two cases previously ruled on by Reykjavík District Court, RÚV reports, regarding the fry toll.…
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Higher Tax Breaks For The Wealthy Than For Low-Income Groups
According to a report filed by the Icelandic Confederation of Labour (ASÍ), the tax code changes that came into effect at the beginning of January will benefit high-income groups six times more than the lower and middle classes. Specifically, ASÍ calculated that…
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Here’s The Taxes And Fees That Went Up In Iceland For 2018
Everybody will be paying more into local and national coffers in Iceland in 2018, especially the working class. Finance taxes were raised, however, and there may be increased taxation on Iceland’s fishing giants, too. RÚV reports on a number of the changes…
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Alcohol Tax: Iceland Pay The Most In Europe
With the proposed 2018 government budget, alcohol taxes will become the highest in Europe, the Icelandic Federation of Trade wrote in a press release. According to figures from Spirits Europe white and red wine sold in Iceland is the heaviest taxed in…
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Iceland Proposes A Novel Solution To Tax Evasion
Minister of Finance Benedikt Jóhannesson held a press conference today wherein he announced that the Icelandic government has “declared war” against tax evaders, in the wake of reports issued by two different government workgroups on imports and taxes. Benedikt is also the…
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Greater Tax On High Income Earners Could Help Fund Health Care
Iceland’s faltering health care system may get a much-needed infusion of funding, financed by raising taxes on those making more than 1.5 million ISK per month. Coalition formation talks are currently ongoing between the Left-Greens (who were given the mandate to form…
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Former PM Confirms Tax Returns Not In Keeping With The Law
Former Prime Minister Sigmundur Davíð Gunnlaugsson has made statements about his tax returns that are not confirmed by what the law actually says. In a post he made on his personal site, Sigmundur makes public a great deal of information about his…
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Iceland Still Hasn’t Bought Tax Dodger Info
The Directorate of Tax Investigations in Iceland has yet to purchase evidence proving Icelanders guilty in over 400 instances of illegal tax evasion, reports Vísir. “We are working on the issue and I believe we are about to settle it,” said Head…
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All Icelanders To Be Registered To Atheism Society
In a funny albeit passive aggressive move, the board of the Icelandic atheism society, Vantrú, have voted to register all Icelanders as members, reports Vísir. “You, dear reader, will be a member of Vantrú, unless you specifically deregister yourself from membership,” reads a…
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Wants 150 Million ISK For Tax Dodger Info
The informant looking to sell data proving hundreds of instances of tax evasion at the hands of Icelanders has asked for 150 million ISK or 1.1 million USD, reports RÚV. As reported, since receiving the offer a few months ago, the Directorate…
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Good Ol’ Traditions
One of last week’s loudest debates has to do with next year’s State Treasury budget, which Alþingi has been debating, as tradition has it, these last days before Christmas. Among the proposed changes in taxation is the lowering of VAT on electric…
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Government Concludes Each Meal Costs About 250 ISK
A new bill on the VAT bases its proposals on the conclusion that each Icelander can live on about 750 ISK worth of food per day. Vísir reports that Minister of Finance Bjarni Benediktsson has submitted a bill to parliament that proposes…
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Wants To Raise Taxes On Tourism
An MP for the Progressive Party wants to raise taxes on hospitality services and reinstate the VAT for businesses in the tourist industry. Karl Garðarsson, posting on his Facebook, expressed objections to a proposal from the Independence Party to raise taxes on…
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Icelandic Bar Life
Sigríður “Sigga” Guðlaugsdóttir’s induction into the world of running bars began by chance. She was working part-time at a bar in Boston while she was studying film in the ‘80s when the owners suddenly fired the managers and asked her to take…
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Nobody Likes A Balanced Budget
In the coalition’s first few days of government, Minister of Finance Bjarni Benediktsson and Prime Minister Sigmundur Davíð Gunnlaugsson proclaimed that the deficit that they’ve inherited—25 billion ISK—is much greater than they had been led to believe it was before the elections.…