Iceland's Ministry of Finance and Economic Affairs has published a draft bill on amendments to tax incentives for legal entities working in the public interest. The amendments are meant to improve incentives for such entities and for donors to such entities. The main points of the draft bill are as follows:
- Individuals will be allowed to deduct individual financial contributions (donations) to legal entities working for the public interest up to ISK 350,000 per year;
- The allowed deduction o…