GloBE Country Guide: Iceland

Summary

Status	Draft Bill
Law	Draft Minimum Tax Bill of June 5, 2025
Effective Date	Accounting periods beginning after December 31, 2025
IIR	Yes (2026)
UTPR	No
QDMTT	Yes (2026)
Filing Deadlines	Standard
Safe Harbours	Simplified Calculations Safe Harbour, QDMTT Safe Harbour

Legislation
General
Differences to Model Rules
Qualifying Domestic Minimum Top-Up Tax
Administration and Filing
Penalties

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Lee Hadnum

Lee is a qualified Chartered Accountant and a former Senior Tax Analyst at Bloomberg Tax. Lee began his career in Ernst & Young's Entrepreneurial Services department and has 20 years of international tax planning experience.

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