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 Icelandic company's capital.
The draft bill also provides for the repeal of the 10-year loss carry…