Eight people—six men and two women—were this afternoon convicted in one of Iceland’s biggest tax fraud investigations of recent times. The defendants were each sentenced to three-month to four-year suspended prison sentences.
Friðjón Björgvin Gunnarsson, CEO of several Icelandic companies, has been sentenced to two-and-a-half years’ imprisonment for breaking tax law, bookkeeping law, and for money laundering.
The Directorate of Tax Investigations in Iceland is investigating 22 contractors, suspected of trying to evade tax payments by transferring the responsibility for their payments to their subcontractors.
A trial in the case of eight people suspected of a major tax fraud begins in Reykjanes District Court today.
Fifty-seven Icelandic fishermen, who worked for Icelandic fisheries abroad, are suspected of having failed to pay income tax in Iceland, where they resided.
Almost one hundred people are suspects in the investigation of the Directorate of Tax Investigation in Iceland regarding offshore companies.
The Icelandic State Prosecutor has charged eight individuals, suspected of major tax evasion by defrauding the state of ISK 278 million (USD 2.3 million, EUR 2 million).
Icelandic media are abuzz today about “the fake foreign man” who was among the biggest debtors of the failed old Icelandic banks before the 2008 crash. The name does not refer to a specific individual; it is actually a collective term for a number of unknown overseas legal entities.
Foreign workers of a contracting firm under investigation for massive tax fraud, sought help at the Embassy of Poland in Reykjavík last Friday after electricity had been cut off from the building in which they resided.
An extensive police investigation of tax and accounting fraud in the construction business, which led to the arrests of nine people last week, is now focusing on human trafficking as well.
Bryndís Kristjánsdóttir, director of tax investigations in Iceland, states that the directorate suspects the owners of 30 offshore companies of tax evasion.
The director of Iceland’s Directorate of Internal Revenue has formally requested to have the notorious Panama Papers handed over by Reykjavík Media under article 94 of the law on income taxes.
The Directorate of Tax Investigations in Iceland will begin investigating the tax returns of 30 individuals.