New 25% tax rebate on film-making in Iceland

Icelandic MPs have voted to raise tax rebates for film-making from 20% to 25% and extend the validity of the relevant legislation to 2021.

The move, championed by Minister for Industry and Commerce Ragnheiður Elín Árnadóttir, is designed to maintain Iceland’s competitiveness as a location for filming foreign movies.

International competition in this field is becoming ever fiercer – for instance, Norway introduced legislation earlier this year bringing in a 25% tax rebate for film-making.

Speaking in favour of the proposed changes back in March, Árnadóttir said that the rebate, enshrined in Icelandic law since 1999, was “one of the factors contributing to the great development of the Icelandic film industry”.

Ragnheiður Elín Árnadóttir.

Ragnheiður Elín Árnadóttir.




8 °C

Light rain


2 °C



3 °C

Warning: Yellow More

Exchange rates

USD USD 119.67 EUR EUR 135.70
GBP GBP 155.76 DKK DKK 18.18
NOK NOK 13.88 SEK SEK 12.79
CHF CHF 119.55 JPY JPY 1.08
ISK price of selected currencies, according to the official exchange rate of the Central Bank of Iceland. Updated daily.