Skattalög

Skattalög, or tax laws, are a fundamental component of the legal framework governing taxation in Iceland. These laws establish the rules and procedures for how taxes are assessed, collected, and enforced by the state. The primary authority responsible for administering tax legislation in Iceland is the Directorate of Internal Revenue (*Innskattastjórn*), which operates under the Ministry of Finance.

The tax system in Iceland is based on both direct and indirect taxes. Direct taxes include income tax, corporate tax, and property tax, while indirect taxes encompass value-added tax (VAT), excise duties, and customs duties. The tax code (*Skattalög*) outlines the obligations of taxpayers, the rights of the tax authorities, and the procedures for tax filings, audits, and disputes. Key principles in Icelandic tax law emphasize transparency, fairness, and compliance with international tax standards.

Taxpayers in Iceland are required to file annual tax returns, reporting income, deductions, and taxable assets. The Directorate of Internal Revenue conducts regular audits to ensure compliance, and penalties may apply for non-compliance or tax evasion. Tax treaties with other countries also play a role in preventing double taxation and facilitating cross-border tax cooperation.

Skattalög are periodically updated to reflect economic changes, legislative reforms, and international agreements. The legal framework aims to balance revenue collection with equitable taxation, supporting public services and economic stability. For detailed information, taxpayers and businesses can refer to the official tax legislation published by the Directorate of Internal Revenue or consult legal professionals specializing in tax law.