Tax is a core practice at BBA//Fjeldco with the team providing comprehensive advice that encompasses both corporate and international tax, VAT issues, tax planning matters, due diligence work, risk management mandates and tax disputes. The team works cross-departmentally to integrate tax services into the firm’s offerings across the board, and is often engaged on a range of tax issues and implications associated with work in other practice areas. Key clients include major Icelandic banks, energy corporations and private equity houses including Kvika bank, Islandsbanki, Arion Bank, Arctic Energy and Stefnir. Practice leader Páll Jóhannesson has experience working for both the Inland Revenue and the Ministry of Finance in Iceland, as well as Kaupthing Bank as deputy head of tax; he excels in tax issues associated with high-end M&A transactions.

As a member of the firm's global network, tax services are fundamental to Deloitte Legal ehf.‘s legal service offering. M&A tax, business tax, indirect taxes, international tax and transfer pricing mandates represent the bulk of the team’s workload, successfully leveraging the firm's global status to handle a range of complex, cross-border matters spanning corporate, commercial and competition issues, and M&A and employment-related tax issues. The group also actively liaises with the parliamentary committee on key legislative tax amendments. Tax partner and co-head of the practice Guðbjörg Þorsteinsdóttir advises large-scale oil companies, airlines, real estate companies and IT providers; she jointly leads the practice with managing partner Haraldur Ingi Birgisson.

The ‘outstanding team’ at LOGOS is notable in the domestic market for its variety of tax services, ranging from handling cross-border outbound investment work and complex restructurings, to advising on the tax implications for high-end transactions and handling tax disputes before the Icelandic tax authorities and at all three levels of the domestic courts. The team counts Deutsche Bank and Kvika Bank among its client base. Tax partner Jón Elvar Guðmundsson is highly experienced in tax litigation and provides advice on large-scale transactions. He jointly leads the tax practice group in conjunction Bjarnfreður Ólafsson, who has extensive knowledge and experience of VAT law in Iceland.

As a full-service law firm, Juris provides comprehensive corporate and commercial-related tax advice, and collaborates with other departments in the firm to incorporate tax services into the wider firm's workload. The team is equally adept at contentious and non-contentious matters, and recently represented a private client in the Court of Appeal against charges for tax evasion and tax fraud. Halldór Jónsson leads the team, receiving support from associate Jenný Harðardóttir.

Lex Law Offices adopts an inter-disciplinary approach to leverage the tax group’s expertise to provide specialist advice across a range of practice areas. The team’s scope of work includes providing tax advice on a range of matters, including tax issues relating to corporate and project financings, restructurings, corporate structurings, the division, winding-up and liquidation of companies, and changes in operations. The group also advises on potential legislative amendments and frequently handles contentious work in the form of tax disputes with the Icelandic Revenue and Customs authority. Corporate specialist Garðar Víðir Gunnarsson leads the team, with support from associate Guðrún Lilja Sigurðardóttir.