30. June 2020
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.
Landsbankinn hf. Austurstræti 11, 155 Reykjavík, Reg. No. 471008-0280
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