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Calculation of financial income tax on currency gains withheld at source

It is quite common to invest part of savings in accounts in foreign currencies. When the Icelandic króna (ISK) depreciates, currency gains accrue to these accounts and the Bank is obligated to withhold a 22% financial income tax on such gains. The tax is collected upon withdrawal from the account.

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Forsíða - 30 July 2020 04:05 PM

Financial results of Landsbankinn in H1 of 2020

Landsbankinn's after-tax performance was negative by ISK 3.3 billion during the first half of 2020, compared with a profit of ISK 11.1 billion during the same period in 2019. Loan impairment amounted to ISK 13.4 billion during the period, equal to about 1.1% of the bank‘s loan portfolio, compared with an impairment of ISK 2.4 billion in the same period last year.


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Weekly bulletin - 27 July 2020 08:57 AM

Icelandic Economic Weekly: Monday 27 July 2020

The CPI based on prices in mid-July increased 0.15% between months. Arion Bank published preliminary financial results for Q2. Icelandair Group also published preliminary financial results for Q2. The CBI release the minutes of the Financial Stability Committee meeting in June.


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Forsíða - 24 July 2020 01:50 PM

Landsbankinn is the best bank in Iceland in the assessment of Euromoney

The international business and finance magazine Euromoney has chosen Landsbankinn as the best bank in Iceland, and this is the second year in a row that the bank receives this recognition.


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