Gjaldtækur

Gjaldtækur refers to the Icelandic term for public revenue or income collected by the government. This encompasses various forms of taxes, fees, and other charges levied on individuals and businesses within the country. The primary purpose of gjaldtækur is to fund public services and infrastructure, such as healthcare, education, transportation, and social welfare programs.

The Icelandic government collects gjaldtækur through a progressive income tax system, where higher earners contribute a larger percentage of their income. Value-added tax (VAT) is another significant source of public revenue, applied to most goods and services sold in Iceland. Additionally, corporations are subject to corporate income tax. Other forms of gjaldtækur include property taxes, customs duties, and various fees for specific services provided by the state.

The administration and collection of gjaldtækur are managed by governmental bodies like the Directorate of Internal Revenue (Ríkisskattstjóri). Transparency and accountability in the handling of public revenue are considered important aspects of governance in Iceland. The efficiency and fairness of the tax system are subjects of ongoing discussion and policy adjustments to ensure that gjaldtækur effectively support the nation's economic and social objectives.