IMF Urges Iceland to Raise VAT and Housing Taxes

• The IMF says Iceland should consider raising more revenue to ease long-term spending pressure.
• It suggested increasing the preferential VAT rate and/or narrowing VAT exemptions, which could raise about 0.5% of GDP.
• The IMF’s comments came in its concluding statement after an Article IV mission.

Source: news.bloombergtax.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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