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- Corporate income tax only 20%
- No taxes levied by municipalities on corporates’ profits
- No net wealth taxes levied on net capital
- Tax incentives available on film production in Iceland
- Dividends received by corporations are deductible
- No requirements relating to percentage of stock ownership in the corporate payer apply
- Consolidated returns available for corporations subject to at least 90% common control
- Books of accounts may be kept in foreign currencies
- Publicly traded companies are allowed to issue their share capital in a foreign currency
- Non-publicly traded companies are allowed to issue their share capital in a foreign currency if certain requirements are met
- No branch profits tax levied on repatriated profits from branches
- Double taxation treaties available
- Foreign tax credit available to avoid double taxation in the absence of tax treaties
- Fair legislation on controlled foreign corporations
- Fair legislation on “thin capitalization”
- No basket system regarding the foreign tax credit
- Developed financial and service sector
- Iceland is a member of the 31-nation European Economic Area
