Iceland's Ministry of Finance has launched a public consultation on a draft bill containing amendments to Law No. 152/2009 on Support for Innovation Companies. In particular, the draft bill would:
- Change the name of the law to Law on Support for R&D Projects of Companies and replace the general term "innovation company" with "company" to clarify that tax support is project-based and accessible across various industries;
- Refine the definitions of research and development projects to alig…