Iceland: Proposed abolishment of capital gains tax on equities transactions
On 4 December 2019, the Icelandic Ministry of Finance and Economic Affairs presented a draft bill to the parliament, which includes a proposal to amend the Withholding Tax Act no. 45/1987 and to abolish tax on capital gains derived from equity transactions for taxpayers with limited tax liability.
The draft law is expected to be reviewed by the parliament in late January or February 2020.
We continue to monitor the Icelandic market for new developments and will provide more information as it becomes available.
This Taxflash is intended to provide customers with general information gathered from different sources that are generally believed to be reliable. Clearstream Banking S.A. does not guarantee the accuracy or completeness of the information and does not undertake to keep it up to date. Use of the information made available in this Taxflash is at the customer’s own risk and Clearstream Banking S.A. its subsidiaries and affiliates expressly disclaim any liability for any errors or omissions |