Iceland: Improving the Equity and Revenue Productivity of the Icelandic Tax System

July 16, 2010

Preview Citation

Format: Chicago

Iceland: Improving the Equity and Revenue Productivity of the Icelandic Tax System, (USA: International Monetary Fund, 2010) accessed December 21, 2024

Summary

The Icelandic government has launched a review of the tax system, with a view to improving its income redistribution, growth orientation, and efficiency features, as well as increasing its revenue mobilization potential. It aims at minimizing detrimental effects on employment and growth, and at removing inconsistencies with international practices. The tax measures will boost the revenue potential in line with the government’s objectives while substantially increasing income redistribution. The Icelandic Corporate Index Tax would benefit from adopting financial accounting as the basis to determine taxable income.

Subject: Capital income, Capital income tax, Income tax systems, National accounts, Personal income, Personal income tax, Taxes

Keywords: Capital income, Capital income tax, CR, Double taxation, Europe, Excise duty, Income tax systems, ISCR, Personal income, Personal income tax, Rate of return, Return on assets, Tax system, Wealth tax, Withholding tax

Publication Details

Pages:

55
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/213
Stock No:

1ISLEA2010002
ISBN:

9781455207947
ISSN:

1934-7685

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