Iceland Announces Approval of Industrial Policy Action Plan on Tax, Investment Measures

The Icelandic Government May 27 announced the same date approval of proposed tax measures in Industrial Policy Action Plan 2026-2027. The announcement includes proposals to: 1) extend the duration of the 25 percent income tax reduction for nonresident experts; 2) establish a clear taxation framework for data centers; 3) review the tax framework for innovation companies, including stock options, nonresident profit taxation, and VAT registration; 4) amend user charges at tourist and aquaculture sites; 5) review property tax for land-based aquaculture; and 6) introduce investment facilitation measures, including a streamlined nonresident investment framework and investor portal. [Iceland, Government Portal, 05/27/26] ...