Iceland
Taxation in Iceland
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Starting a new business in India
I run a UK business and my fellow Director is an Indian National (I am a British citizen).We now want to launch our company in India and I am struggling to make any progress with the Indian High Commission. Can anyone help me with the process. I have twice visited the commission in London and wasted hours of time due to their complete lack of organisation.I will appreciate any help to make
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starting a business
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Taxation in Iceland
Personal Income Tax
Residents in Iceland are liable to income tax at the rate of between 24 and 33%. Personal income tax is withheld at source and paid as you earn. It is divided into national income tax and municipal income tax.
Resident individuals are taxed on their worldwide income. Non-resident individuals become tax residents if they stay in the country for more than 183 days out of a 12-month period.
Corporation Tax
Corporations: 18% or 32.7%
Partnerships: 23.5%