Creditors Face $5 Billion Tax As Iceland Unveils Stability Tax

Following Iceland recently unveiling legislation to unwind capital controls, creditors including hedge funds could be facing a one-time stability tax of 39%.

Several funds flocked to Iceland after its 2008 collapse, snapping up distressed banking assets following the $85 billion default of the island’s three largest lenders.

Iceland’s legislation to unwind capital controls
As reported by ValueWalk, Iceland’s prime minister Sigmundur Davio Gunnlaugsson and finance minister Bjarni Benediktsson announced a plan . . .


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