Do you live in another Nordic country and receive pension from Iceland?

The discussion below is about the taxation of pension and annuity payments received from Iceland by pension/annuity recipients residing in another Nordic country.

Taxation in Iceland

Regarding taxation of annuities paid those residing in another Nordic country, but receiving a pension or annuity from Iceland, the rule applies that they pay national income tax and municipal income tax in Iceland on these payments. It makes no difference whether the pension comes from The Social Insurance Administration or some pensions founds. They pay the same rate for withholding taxes as those domiciled in Iceland, and the personal exemption is taken into account against these payments.

Taxation in the country of residence

Your pension can also be taxable in your country of residence. In the event that you are subject to taxation in Sweden and your country of residence, it is your country of residence that clears any double taxation. Thus you should always declare your foreign income in your income-tax return.

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