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tax

New Cap on Health Costs Proposed

The Minister for Health has proposed a new bill which will cap any individual’s annual health bill to below ISK 100,000 (EUR 710/USD 809). No extra public money will be available to finance the move, however.

Minister of Finance Bjarni Benediktsson speaking at the Independence Party general meeting in 2013.

Central Bank Recommends Exemption

The Central Bank of Iceland has recommended an exemption from the Foreign Exchange Act be given to the failed banks, Kaupthing hf., Glitnir hf., and LBI hf.

Will Crooks in Construction be Nailed?

The Directorate of Internal Revenue (DIR) believes organized tax fraud related to the construction industry amounted to ISK two billion (USD 15.4 million, EUR 13.6 million) last year.

Money - Icelandic Króna

Free Tax Return Advice Today

Master’s students from the University of Iceland legal department, in co-operation with the accounting and auditing company Deloitte, are offering the public free tax consultations today.