Iceland

Accounting and tax skills

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10 skills

Company Formation in Iceland

Iceland Company FormationTax year 2026

Company formation and entity choice in Iceland for tax year 2026, from Act 138/1994 on private limited companies, Act 2/1995 on public limited companies, Act 50/2007 on partnerships, Act 3/2006 on annual accounts, Act 88/1991 on state fees and the Income Tax Act 90/2003 (althingi.is text 158a), and Skatturinn's company register pages and 2026 fee list. Covers the ehf. (minimum capital ISK 500,000, fully paid before registration, one founder allowed), the hf. (ISK 4,000,000, two founders, board of three), partnerships and sole traders, the board residence rule, registration documents, deadlines and fees (ehf. ISK 140,500), annual accounts filing, the audit exemption and the 2026 company return deadlines (31 May, extension to 21 September). Use for 'set up a company in Iceland', 'ehf vs hf', 'Iceland company registration fee'. Out of scope: company tax computation (is-corporate-income-tax), owner salary vs dividend planning (iceland-tax-optimization), VAT registration (iceland-vat), payroll (iceland-payroll).

Not yet approved

Built from the law

Iceland Payroll

Iceland PayrollTax year 2026

Iceland payroll processing for employed persons.

Not yet approved

Built from the law

Transfer Pricing in Iceland

Iceland Transfer PricingTax year 2026

Prepare Iceland transfer-pricing workpapers for 2026 for resident legal entities and Icelandic permanent establishments. Identify related parties, distinguish arm's-length pricing from the preceding-year documentation threshold, support the selected method and reconcile controlled transactions. Covers annual documentation, RSK 4.28 disclosure, minor transactions, language, retention, request deadlines, documentation fines and a separate country-by-country reporting screen. Use for intercompany goods, services, loans, intangibles and branch dealings. Treaty-specific MAP relief is screened, not computed. General reference only; apply it to the client's documented facts.

Not yet approved

Built from the law

Iceland Tax Optimization

Iceland Tax OptimizationTax year 2026

Reducing tax in Iceland, tax planning, or legal strategies to minimise tax for a self-employed person or small company in Iceland.

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Built from the law

Iceland VAT

Iceland VAT / GSTTax year 2026

Prepare, review, or classify transactions for an Iceland VAT (VSK) return for any client.

Not yet approved

Built from the law

Tax Overview in Iceland

IcelandTax year 2026

A one-page map of the Icelandic tax system for tax year 2026, from the Income Tax Act 90/2003, the VAT Act 50/1988 and Acts 4/1995, 113/1990 and 129/1997 as consolidated on althingi.is (text 158a), Advertisement 1521/2025 and Skatturinn's 2026 pages and filing notices. Covers the income year, the authority, who is taxed on worldwide income, the 2026 withholding bands (31.49% / 37.99% / 46.29%), the personal credit, the 22% capital income tax, company tax at 20% and 37.6%, the 6.35% payroll levy, the 15.5% minimum pension contribution, VAT at 24% and 11% with the ISK 2,000,000 registration limit, and the main 2026 deadlines (company returns 31 May, professional extension to 21 September). Use for 'how does tax work in Iceland', 'Iceland tax overview', 'Iceland tax rates 2026'. It points to the pack's domain skills for the detail: iceland-income-tax, is-corporate-income-tax, iceland-vat, iceland-payroll, iceland-social-contributions, is-cross-border, is-transfer-pricing, is-company-formation, iceland-tax-optimization.

Not yet approved

Built from the law

Iceland Social Contributions

Iceland PayrollTax year 2026

Iceland 2026 employer social levy (tryggingagjald), mandatory occupational pension, contribution bases, self-employed calculated remuneration, filing, separate pension deadlines and A1 evidence. Use for payroll social costs, pension deductions, employer pension, seamen and contribution remittance reconciliation. Includes source conflicts and recomputable cases.

Not yet approved

Built from the law

Iceland Income Tax

Iceland Income TaxTax year 2026

Iceland (Ísland) personal income tax for self-employed individuals and employees.

Not yet approved

Built from the law

Corporate Income Tax in Iceland

Iceland Corporate TaxTax year 2026

Prepare Iceland corporate income-tax workpapers for 2026 for resident limited companies and other separately taxable legal entities. Determine the legal-form rate, reconcile accounting profit to the tax base, support deductions, depreciation, participation deductions and loss carryforwards, screen group taxation and related-party finance, and reconcile assessment payments. Includes the separately identified 2026 filing cycle for 2025 income. Use for ehf., hf., taxable partnerships, RSK 1.04 and annual tax reconciliations and approved research/development credits, cost ceilings and public-aid limits, and the stated financial-sector remuneration, additional profit and bank-liability taxes, conditional domestic mergers/splits and sole-trade incorporation. Other sector taxes, foreign credits, disputed restructuring cases and some financial instruments are outside this skill. General reference only; check the cited law before filing.

Not yet approved

Built from the law

Cross Border in Iceland

Iceland Cross-BorderTax year 2026

Prepare Iceland cross-border tax screening workpapers for 2026. Establish domestic residence, identify non-resident income categories, distinguish services from rights and financing, screen permanent establishments and prepare treaty exemption or refund applications. Covers national company rates, residence boundaries, payer evidence and departure checks. Use for foreign contractors, royalties, dividends, interest, remote work, branches and international moves. Includes a resident foreign-relief workpaper, conditional UK company and individual credit examples and the qualifying company migration (exit) computation. It does not cover every treaty corridor. General reference only; apply it to the client's documented facts.

Not yet approved

Built from the law