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26. Aug 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Information Exchange Agreements (TIEA´s)

Information Exchange Agreements (TIEA´s) Ministry of Finance and Economic Affairs Iceland has concluded a total of 44 bilateral Tax Information Exchange Agreements (TIEA´s). Drafting of these agreements was based on the OECD TIEA model and the work was carried out by a Nordic Steering Group in the years 2008-2015. Tax authorities can request information in tax matters in accordance with the TIEA, which can be of significance for the assessment and enforcement of income tax

26. Aug 2026Ministry of Finance and Economic Affairs, Information Technology

IT governance

IT governance Ministry of Finance and Economic Affairs Digital administration requires an organizational and operational structure that supports the increased utilization of IT, data and transformation of processes in government operations. Similarly, the legal framework needs to support digital administration. Legal framework Good digital legislation reduces bureaucracy by simplifying current legislation and integrating processes and technology

17. Aug 2026Ministry of Finance and Economic Affairs

Ministry Departments

Ministry Departments Ministry of Finance and Economic Affairs Minister's Secretariat Permanent Secretary: Hermann Sæmundsson The Minister’s Secretariat co-ordinates the Ministry's activities and prepares and follows up on the priorities set for its activities. The department handles issues related to the Minister's agenda, preparation of meetings and matters concerning the Minister's parliamentary duties. It is primarily responsible for relations with Alþingi and its institutions and the development of administrative procedures within the Ministry in general

04. Aug 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Economic affairs and economic outlook

Economic affairs and economic outlook Ministry of Finance and Economic Affairs The Ministry of Finance and Economic Affairs handles matters which concern the country's economic management. This implies responsibility for drafting economic policy, with the principal objectives of promoting economic stability and a good standard of living. The Ministry oversees the preparation and implementation of the government's economic policies, the coordination of public sector economic management and the presentation of economic affairs both domestically and abroad

30. Jul 2026Ministry for Foreign Affairs, Foreign Affairs, Prime Ministers Office, Ministry of Finance and Economic Affairs

Sustainable Development Goals

Sustainable Development Goals Ministry for Foreign Affairs Prime Ministers Office Ministry of Finance and Economic Affairs The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and into the future. At its heart are the 17 Sustainable Development Goals (SDGs), which are an urgent call for action by all countries - developed and developing - in a global partnership. Please visit UN website THE 17 GOALS for more details

20. May 2026Ministry of Justice, Ministry of Finance and Economic Affairs, Public Safety and Security

AML - CFT policies

AML - CFT policies Ministry of Justice Ministry of Finance and Economic Affairs The Governments policy on AML, CFT and CPF was published in July 2019. The policy states clear determination to on-going combat of money laundering, terrorist and proliferation financing. The policy seeks to promote further cooperation of competent authorities and ensure that all necessary measures are available

20. May 2026Ministry of Finance and Economic Affairs, Operations and state assets

Regulations for the public procurement complaints commission

Regulations for the public procurement complaints commission Ministry of Finance and Economic Affairs Translated from the Icelandic. In the event of any discrepancies between the translation and the text in Icelandic, the original text shall take precedence. Article 1 Name and domicile The Public Procurement Complaints Commission operates on the basis of Chapter XI

19. May 2026Ministry of Finance and Economic Affairs

Successful Eurobond Issuance

Today the Republic of Iceland issued a new €500 million 5 year benchmark bond, equivalent to ISK 72bn. The transaction was issued at a spread of 34-basis points to the Euro 5-year mid-swap rate. The proceeds will be used to strengthen the Central Bank of Iceland’s international reserves and refinance the outstanding Eurobond maturing in June. The issue reflects the new strategy of the Government’s Medium-Term Debt Management Policy, which aims to issue annually in the international markets.

24. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Financial Stability Council

Financial Stability Council Ministry of Finance and Economic Affairs The Financial Stability Council is a formal co-operation forum of public authorities for financial stability. The Council serves as a venue for consultation, exchange of information and policy formulation with the aim to strengthen and preserve financial stability in the public interest, limit the build-up of systemic risk and coordinate the preparedness of public authorities for financial crises. Members of the Financial Stability Council are the Minister of Finance and Economic Affairs and the Governor of the Central Bank

19. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Content from before 2020

Content from before 2020 Ministry of Finance and Economic Affairs The role of the Financial Stability Council changed on 1 January 2020 with the merger of the Central Bank and the Financial Supervisory Authority. Before the merger, the Council had sent recommendations to the Financial Supervisory Authority and given an opinion on the Authority’s rules on the maximum loan-to-value ratio. The recommendations and the opinion, as well as minutes and press releases relating to meetings before 1 January 2020, can be found on this page

11. Mar 2026Ministry of Finance and Economic Affairs

The Green Bond Framework

The Green Bond Framework Ministry of Finance and Economic Affairs celand is committed to the fulfilment of the ambitions of the Paris Agreement on climate change and United Nation’s (UN) Sustainable Development Goals (SDGs). Iceland is committed to playing a role, in partnership with others, to alleviate poverty, improve health and education, reduce inequalities, and spur economic growth, while contributing towards a low-carbon and climate resilient economy and preserve our oceans and land. The Green Bond Framework describes how the Government of Iceland will mobilize financing to achieve these ambitions

11. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Progress of plans to remove capital controls

Progress of plans to remove capital controls Ministry of Finance and Economic Affairs The Minister of Finance and Economic Affairs has, as provided for in Act No. 16/2013 of the Icelandic parliament Althingi, published a report on the progress of plans to remove capital controls. The first of the reports provided for in the Act was published on the website of the Ministry of Finance and Economic Affairs on 17 September 2013

11. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Gender budgeting - Why?

Gender budgeting - Why? Ministry of Finance and Economic Affairs Gender budgeting contributes to gender and equality mainstreaming of all policy-making and planningon the part of ministries and public institutions as stipulated in the Act of Equal Status and Equal Rights Irrespective of Gender. With its aim to advance gender equality, gender budgeting also contributes to economic prosperity as inequality is considered to have a negative economic impact on societies. Due to people’s different situations and roles in society, the collection and allocation of public funds has a different impact on various groups

10. Mar 2026Ministry of Justice, Human Rights and Equality, Equality, Ministry of Finance and Economic Affairs

Equal Pay Certification

Equal Pay Certification Ministry of Justice Ministry of Finance and Economic Affairs The purpose of the obligatory equal pay certification is to enforce the current legislation prohibiting discriminatory practices based on gender and requiring that women and men shall be paid equal wages and enjoy equal terms of employment for the same jobs or jobs of equal value. Companies and institutions employing 25 or more workers, on annual basis, will be required to obtain equal pay certification of their equal pay system and the implementation thereof. In accordance to the legislation, certification shall meet the requirements of the Standard ÍST 85, Equal Wage Management System – Requirements and guidance (normally called The Equal Pay Standard)

10. Mar 2026Ministry of Finance and Economic Affairs, Ministry of Health, Ministry of Social Affairs and Housing, Social Security and Pensions

Social security and pensions

Social security and pensions Ministry of Finance and Economic Affairs Ministry of Health Ministry of Social Affairs and Housing The Icelandic pension system is based on three main pillars: the social security system, an occupational pension system and supplementary pension savings. Social security is a public pension system of which all Icelanders are members, with the primary objective of providing mutual insurance, income equalisation and a social safety net for pension recipients. Social security includes pensions, health insurance and disability insurance

10. Mar 2026Ministry of Finance and Economic Affairs, Operations and state assets

Advisory committee on Anti-Dumping and Countervailing Duties

Advisory committee on Anti-Dumping and Countervailing Duties Ministry of Finance and Economic Affairs The Minister of Finance and Economic Affairs has appointed an Advisory committee, pursuant to Article 133(5) of the Customs Code No 88/2005, to consider the application brought by PCC BakkiSilicon hf. concerning the importation of silicon metal and make a recommendation to the minister for the imposition of anti-dumping and countervailing duties. The Advisory committee has received the application brought by PCC BakkiSilicon hf

09. Mar 2026Ministry of Finance and Economic Affairs, Information Technology

Geodata

Geodata Ministry of Finance and Economic Affairs Ministry of the Environment, Energy and Climate Geodata is basic data on the country ensuring public access to information on the environment and nature. The data is also important to support the government's policy formulation and activities in various areas, such as asset registration, planning, nature conservation, monitoring of natural threats, energy matters, research and public works, and is used in a variety of ways by the public and industry. Basic geodetic and geographic data on Iceland is therefore a necessity

09. Mar 2026Ministry of Finance and Economic Affairs, Operations and state assets

Operations and state assets

Operations and state assets Ministry of Finance and Economic Affairs State operations are extensive in scope and functions involved in the state's financial and operational infrastructure include accounting for public agencies, dissemination of information on state finances, effective payment mediation, public procurement and human resources. Efforts are directed at continuous improvement of state operations, with the objective to organise state activities in a way that enables their adaptation to changing social circumstances and encourages effective administration, more efficient use of resources and better performance. The many and varied state assets include buildings and other structures, agricultural land, deserted farms, lots and other property

09. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Tax treatment of royalties

Tax treatment of royalties Ministry of Finance and Economic Affairs Effective 1 January 2020, royalty payments to authors/creators and/or other individuals who are rights holders of copyrights in connection with subsequent use of created works will be taxed as investment income, with no allowable deductions, instead of being taxed as wage income. This applies to works that, pursuant to Article 1 of the Copyright Act, no. 73/1972, have been made available to the public, issued, or published; cf

06. Mar 2026Ministry of Finance and Economic Affairs, Human Resources

Human resources

Human resources Ministry of Finance and Economic Affairs The Ministry of Finance and Economic Affairs manages personnel matters and affairs of state employees, as provided for by law and a presidential decree on Government Offices. This includes wages, terms of employment and pensions, rights and obligations. The Minister of Finance and Economic Affairs also concludes collective bargaining agreements with state employees as laid down in the Act on Collective Wage Agreements of Public Servants

06. Mar 2026Ministry of Finance and Economic Affairs, Information Technology

Information technology

Information technology Ministry of Finance and Economic Affairs Ministry of the Environment, Energy and Climate Ministry of Culture, Innovation and Higher Education Digital public services are the main service channel to citizens and businesses. In a Nordic welfare society, services need be user centric and based on users‘ needs. Table of Contents Overview Information technology Geodata IT governance Policies Public services

06. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Monetary Policy

Monetary Policy Ministry of Finance and Economic Affairs Financial stability should be prioritised over price stability Primary recommendations: Financial stability shall take priority over price stability if conditions develop such that the former is jeopardised. The Central Bank’s sphere of responsibility shall be expanded. The Bank shall be solely responsibile for macroprudential and microprudential policies instead of the current division of responsibilities between the Bank and the Financial Supervisory Authority

06. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Government Debt Management

Government Debt Management Ministry of Finance and Economic Affairs The Ministry of Finance and Economic Affairs is responsible for the central government's debt management and formulates its debt management strategy. The Minister administers borrowing by the Treasury and Part-A State entities based on budgetary authorisations and in accordance with the Act on Government Debt Management, no. 43/1990

06. Mar 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Gender budgeting - How?

Gender budgeting - How? Ministry of Finance and Economic Affairs Implementation of gender budgeting Gender budgeting has been practised in Iceland since 2009 and been mandatory at state level since 2016 as laid out in the Public Finance Act. In its implementation of gender budgeting, Iceland has drawn on guidelines from the Council of Europe and the OECD, among others. The work is framed by a five-year plan on gender budgeting (only available in Icelandic), and its implementation is overseen by a steering committee on gender budgeting, led by the Ministry of Finance and Economic Affairs and with participation of all ministries

06. Mar 2026Economic affairs and public finances, Ministry of Finance and Economic Affairs, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

Iceland Outlook Revised To Positive On Strengthening Fiscal Position; 'A+/A-1' Ratings Affirmed

On March 6, 2026, S&P Global Ratings revised the outlook on its long-term ratings on Iceland to positive from stable. At the same time, the long- and short-term foreign and local currency sovereign credit ratings were affirmed at 'A+/A-1'.

02. Mar 2026Ministry of Finance and Economic Affairs

Double Taxation Treaties

Double Taxation Treaties Ministry of Finance and Economic Affairs Double Taxation Agreements (DTA´s) are treaties between two or more countries on how to avoid double taxation of income and property. The Icelandic DTA model is largely based on the OECD model developed by the Organisation for Economic Co-operation and Development. DTA´s enter into force once they have been ratified by both contracting states and are usually implemented from the beginning of the next calendar year following ratification

26. Feb 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances

Macroeconomic Council

Macroeconomic Council Ministry of Finance and Economic Affairs The objective of the Macroeconomic Council is to strengthen the coordination of economic policy with decisions in the labour market, taking into account economic and social stability and effects on climate. The Macroeconomic Council shall discuss the economic situation and the shared context of public sector finances, monetary policy, and labour market issues in connection with key aspects of economic policy.

16. Feb 2026Ministry of Finance and Economic Affairs, Operations and state assets

The public procurement complaints commission

The public procurement complaints commission Ministry of Finance and Economic Affairs The Public Procurement Complaint Commission is located at the Internal Revenue Board´s office, Borgartúni 21, 105 Reykjavík, Iceland. Email address: [email protected] The role of the Commission is to settle, quickly and impartially, complaints submitted by economic operators relating to alleged violations of the Public Procurement Act and rules established on the basis thereof. The committee operates according to Article 103 Act on public procurement no

06. Feb 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

Fitch Upgrades Iceland to ‘A+’; Outlook Stable; Withdraws Ratings

Fitch Ratings has upgraded Iceland’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘A+’ from ‘A’. The Outlook is Stable. Fitch Ratings has subsequently withdrawn all ratings.

06. Feb 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

Iceland reduces the number of solicited credit ratings

The Republic of Iceland has solicited credit ratings from three credit rating agencies: Fitch Ratings, Moody’s Ratings and S&P Global Ratings.

29. Dec 2025Ministry of Finance and Economic Affairs, Economic affairs and public finances, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

New Medium–Term Debt Management Strategy through 2030

The Ministry of Finance and Economic Affairs has published its Medium-Term Debt Management Strategy (MTDS) for 2026–2030. The MTDS describes arrangements for Treasury debt financing over the period and sets forth targets and criteria for the implementation of debt management.

14. Oct 2025Ministry of Finance and Economic Affairs, Economic affairs and public finances, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

Iceland Publishes Its First Impact and Allocation Report on Green and Sustainable Financing

The Government of Iceland has released its first Impact and Allocation Report, detailing the use of proceeds and environmental benefits of the country’s green and sustainable bond issuances.

12. May 2025Ministry of Finance and Economic Affairs, Economic affairs and public finances, ISB

Ministry Confirms Domestic Joint Bookrunners for Upcoming Íslandsbanki Share Offering

As communicated by the Ministry of Finance and Economic Affairs, last Thursday, the framework for a public offering in Íslandsbanki hf. has been approved. The legal framework ensures that due consideration is given to objectivity, efficiency, equality, and transparency in the offering process. Particular emphasis is placed on ensuring that the entire process earns and maintains public trust.

09. May 2025Ministry of Finance and Economic Affairs, Operations and state assets

Ministry Confirms International Joint Bookrunners for Upcoming Íslandsbanki Share Offering

Yesterday, Alþingi approved amendments to the Act on the Disposition of the State’s Holding in Íslandsbanki hf. The offering is scheduled to take place during the first half of the year through a fully-marketed offering, with individuals given priority access. The legislative framework, established last year for the sale of the state’s remaining shares, ensures that due consideration is given to objectivity, efficiency, equality, and transparency.

09. May 2025Ministry of Finance and Economic Affairs, Operations and state assets

Ministry Confirms International Joint Bookrunners for Upcoming Íslandsbanki Share Offering

Yesterday, Alþingi approved amendments to the Act on the Disposition of the State’s Holding in Íslandsbanki hf. The offering is scheduled to take place during the first half of the year through a fully-marketed offering, with individuals given priority access. The legislative framework, established last year for the sale of the state’s remaining shares, ensures that due consideration is given to objectivity, efficiency, equality, and transparency.