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Iceland Considering New Exemption of Non-Resident Capital Gains on Shares and Repeal of 10-Year Limit on Loss Carryforwards

|Proposed Changes|Iceland
Iceland

The Icelandic parliament is considering a draft bill that would introduce an exemption on capital gains derived by non-residents from the sale of shares in Icelandic companies. The exemption would be available for non-resident legal entities and natural persons that:

  • have not had tax residence in Iceland in the five years before the sale; and
  • own, directly or indirectly, less than 25% of the …

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