Iceland Issues 2016 Budget Proposal Including Personal Income Tax Cuts
On 8 September 2015, Iceland's Ministry of Finance and Economic Affairs published the National Budget proposal 2016, which has been submitted to parliament for approval. The tax-related measures of the budget include the cancellation of most import duties and a reduction in individual income tax.
Import Duties
From 2016, the import duties on clothing and footwear will be canceled, and from …
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