Iceland: stamp duty on a transfer of real estate

The search is stimpilgjald on a kaupsamningur

On 2 November 2026, the Althingi page for Act No. 138/2013 on stamp duty was fetched. The page says it is the statute collection, Icelandic law as of 1 October 2026, edition 158a. The Act took effect on 1 January 2014. Article 3 says stamp duty is paid on documents concerning a transfer of ownership of real estate in Iceland, such as deeds of conveyance, purchase contracts, and gifts. The duty follows the rights the document grants, not its name or form. Article 2 says the duty arises when the chargeable document is signed, and, if more than one person signs, when the last person signs. A party who bases a right on the document is liable for the duty.

Article 4 says the base of stamp duty on a document that transfers ownership of real estate is the valuation registered in the property register when the duty arises, provided that valuation reflects the stage of construction at delivery. Otherwise the valuation that corresponds to the stage of construction at delivery is used. Article 5 says the rate is 0.8 percent if the right-holder is an individual and 1.6 percent if the right-holder is a legal person. On a forced sale to the mortgagee, the mortgagee pays half the stamp duty on the value of the property, whether an individual or a legal person. When an individual buys a dwelling for the first time, half the stamp duty is paid on the chargeable document.

Half duty has a registered-owner test

Article 5 says the condition for that half-duty reduction is that the buyer of the dwelling has not previously been a registered owner of a dwelling, whether by purchase, inheritance, gift, or any other transfer. If there is more than one buyer, the stamp-duty proportion follows the share of the buyer who meets that condition. If the buyer’s spouse or cohabitant has previously been a registered owner of a dwelling, the right of the person who meets the condition is never more than half of the stamp duty otherwise determined for the document. Article 7 says the district commissioners collect the duty. The due date is when the duty arises, and the final due date is two months later. If the document is delivered for registration, the stamp duty is paid. Article 8 says that if the duty is not paid by the final due date, a surcharge of 1 percent of the unpaid amount is added for each started day after that date, and not more than 10 percent.

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Those sentences are that Althingi text. They are not the property-valuation guide, which was not rewritten. A pin or a contact reveal does not establish title, and an asking price is not the registered valuation. This page does not set out a registration.