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Iceland Delays Repeal of Resident Lender Exemption for Interest Deduction Rules

|Approved Changes|Iceland
Iceland

Iceland has reportedly delayed the effective date of the repeal of one of the exemptions from the country's interest deduction limitation rules. The rules were introduced from 1 January 2017 with a general limitation on the deduction of related-party debt expense equal to 30% of EBITDA with certain exemptions, including when the lender is tax resident in Iceland. The resident lender exemption w…

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