The income tax treaty between Australia and Iceland was signed on 12 October 2022. The treaty is the first of its kind between the two countries.
Taxes Covered
The treaty covers Australian income tax, resource rent taxes, and fringe benefits tax, and covers Icelandic income taxes to the state and income tax to the municipalities.
Residence
If a person other than an individual is considered resident in both Contracting States, the competent authorities of both States will determine its r…