On 9 September 2026, the Icelandic Directorate of Internal Revenue (Skatturinn) confirmed that the final filing deadline for corporate tax returns (skattframtal lögaðila) for the 2025 fiscal year is 21 September 2026. This deadline represents a shortening of the previous filing window, reflecting the tax authority’s push for earlier submission and faster processing. The assessment of corporate taxes (álagning lögaðila) for the 2025 income year is scheduled to take place on 30 October 2026. The announcement references the Income Tax Act and the Tax Assessment Act, which govern filing obligations and assessment timelines for legal entities. Companies that fail to file by the deadline may face penalties, including late-filing surcharges and interest on any unpaid tax. Skatturinn encourages electronic filing through its online portal, which offers pre-filled data and validation checks to reduce errors.
Key Takeaways
- Shortened Filing Deadline: The final deadline for submitting corporate tax returns for the 2025 fiscal year is 21 September 2026. This is earlier than in previous years, giving companies less time to prepare and submit their returns. Entities should ensure their financial statements and supporting documentation are finalized well in advance to meet this date.
- Assessment Timeline: Following the filing deadline, Skatturinn will process returns and issue assessments on 30 October 2026. Companies will receive their assessment notices electronically via the digital mailbox on Iceland.is. The assessment notice will specify the final tax liability, any prepayments credited, and the due date for any balance payable.
- Compliance and Penalties: Late filing attracts a penalty surcharge under the Tax Assessment Act, and interest accrues on any unpaid tax from the original due date. Companies experiencing difficulties meeting the deadline should contact Skatturinn proactively to discuss possible payment arrangements or extensions, although extensions are granted only in exceptional circumstances. The authority also reminds taxpayers of the requirement to retain supporting records for at least seven years.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement