On 11 June 2018, Iceland's parliament approved Bill No. 561, which includes measures regarding joint taxation for permanent establishments (PEs) and value added tax (VAT) registration for foreign suppliers. The main measures include:
- Amendment of the joint taxation rules of the Income Tax Act to allow permanent establishments in Iceland of limited liability and private limited companies in Member States of the EEA and EFTA and the Faroe Islands to be jointly taxed together with other group …