Manntölvur

Manntölvur is a traditional Icelandic licensing system for counters and traders. Historically, the manntölvur system was used to regulate commerce in Reykjavik, with the first recorded use dating back to 1613. The word "manntölvur" translates to "man tax" in English, which gives insight into the purpose of the system.

The manntölvur system operated by assessing a tax on various types of merchandise, with different rates ranging from 2.5% to 10% of the merchandise's value. After the tax was collected, the merchant was given a license, known as a "tölvusertjon" or "counter-license". This license served as proof of payment and authorization to trade within the city limits.

Merchants who were frequently found to be avoiding taxes or not paying on time faced severe penalties, including financial fines. Those found in clear violation of the system faced temporary or permanent revocation of their license.

Manntölvur played a crucial role in designing and shaping Iceland's financial infrastructure over the centuries. It helped establish standardized trade practices in a budding economy and paved the way for modern Icelandic financial systems. The transition to a free trade environment after Iceland gained independence from Denmark saw the eventual abolishment of the manntölvur system in 1995.