Iceland: Proposed tax bill

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The Icelandic Ministry of Finance has proposed a bill to Althingi (the Icelandic Parliament) to reduce the tax rate on dividend, interest and capital gains income as follows:

For foreign individuals:	from 20% to 10%
For foreign legal entities:	from 18% to 10%

If approved, these changes will come into effect on 1 January 2012.

We will continue to monitor the progress of this bill for any new developments and will provide more information as it becomes available.