A government program provides grants as relief to help alleviate the financial and economic challenges that businesses have encountered because of the coronavirus (COVID-19) pandemic.
Individuals and legal entities engaged in business or independent activity and that have suffered a 60% or greater reduction in income attributable to the pandemic may be eligible for a relief grant, subject to certain conditions. Grants also may be available in instances of a business closure. The relief grants are available for the period 1 November 2020 through 31 May 2021.
Information about the relief grant program is available on the website (English) of the tax authority. The application deadline for a relief grant is 30 June 2021.
For more information, contact a KPMG tax professional in Iceland:
Soffía Eydís Björgvinsdóttir | + 35 4 545 6089 | email@example.com
Ævar Hrafn Ingólfsson | +35 4 545 6278 | firstname.lastname@example.org
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