Iceland Tax News

Treaty between Bulgaria and Iceland initialled

27 July 2008

Major amendments to Income Tax Act enacted

27 July 2008

Comments on draft contents of 2008 update to Model Tax Convention published

27 July 2008

Treaty between Iceland and Korea (Rep.) signed

21 June 2008

Treaty between US and Iceland – referred to US Senate Committee on Foreign Relations

21 June 2008

Draft of 2008 Model Tax Convention – Proposed changes to Commentary to Art. 12 (definition of royalties)

21 June 2008

Treaty between Romania and Iceland – details

14 May 2008

Treaty between Romania and Iceland signed

15 April 2008

Treaty between Iceland and Mexico signed

15 April 2008

OECD released discussion draft on transactional profit methods

8 February 2008

Treaty between Iceland and India signed

3 December 2007

Treaty between Iceland and United States – details

3 December 2007

Treaty between Bulgaria and Iceland – negotiations

4 November 2007

Treaty between Iceland and United States signed

4 November 2007

OECD releases revised draft of Part IV (Insurance) of the Report on Attribution of Profits to Permanent Establishments

2 September 2007

Second Guideline on implications of ECJ Denkavit case on French dividend withholding tax published

29 July 2007

Discussion draft on application and interpretation of non-discrimination article of OECD Model – details

18 June 2007

Iceland

28 May 2007

Revised Commentary on Article 7 of OECD Model released

28 May 2007

Final Report on Improving the Resolution of Tax Treaty Disputes

24 March 2007

Treaty between Iceland and Malta enters into force

24 February 2007

Report on Attribution of Profits to PEs released

24 February 2007

Treaty between Iceland and Hungary enters into force

17 December 2006

Treaty between Iceland and United States – negotiations concluded

12 November 2006

Treaty between Greece and Iceland signed

13 August 2006

Iceland and Hungary signed a first-time income tax treaty on 23 November 2005. Further details of the treaty will be reported subsequently.

1 January 2006

Germany and Iceland initialled a new income and capital tax treaty on 6 July 2005. Once in force, the new treaty will generally replace the Germany-Iceland income and capital tax treaty of 18 March 1971. Further details of the treaty will be reported subsequently

16 October 2005

Austria initialled a first-time tax treaty with Iceland on 6 May 2005. Further details are not yet available.

3 August 2005

Effective as of 9 June 2005, the Corporate Income Tax Act is amended in respect of the definition of residence of limited liability companies.

3 August 2005

Iceland and Mexico initialled a first-time income tax treaty on 7 April 2005.

9 June 2005