Bans and limits on private income |
Is there a ban on donations from foreign interests to political parties? |
Yes. Contributions may not be accepted from foreign citizens, enterprises or other parties
registered in other countries. This prohibition shall not apply, however, to contributions from foreign citizens who have voting rights in Iceland as provided for in the third paragraph of Art. 2 of Act No. 5/1998, on municipal elections.
(Art 6, Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Is there a ban on donations from foreign interests to candidates? |
Yes. Contributions may not be accepted from foreign citizens, enterprises or other parties
registered in other countries. This prohibition shall not apply, however, to contributions from foreign citizens who have voting rights in Iceland as provided for in the third paragraph of Art. 2 of Act No. 5/1998, on municipal elections.
(Art 6 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011 ) |
Is there a ban on corporate donations to political parties? |
No. Absent from legal framework
|
Is there a ban on corporate donations to candidates? |
No . Absent from legal framework
|
Is there a ban on donations from corporations with government contracts to political parties? |
Yes. Contributions from enterprises in which a majority is owned, or which is controlled by, the state or municipalities may not be accepted. Contributions may not be accepted from public bodies not included under the provisions of Chapter II
(Art 6 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011 ) |
Is there a ban on donations from corporations of partial government ownership to political parties? |
Yes. Contributions from enterprises in which a majority is owned, or which is controlled by, the state or municipalities may not be accepted.
(Art 6 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011 ) |
Is there a ban on donations from corporations with government contracts to candidates? |
Yes. Contributions from enterprises in which a majority is owned, or which is controlled by, the state or municipalities may not be accepted. Contributions may not be accepted from public bodies not included under the provisions of Chapter II
(Art 6 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011 ) |
Is there a ban on donations from corporations of partial government ownership to candidates? |
Yes. Contributions from enterprises in which a majority is owned, or which is controlled by, the state or municipalities may not be accepted.
(Art 6 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011 ) |
Is there a ban on donations from Trade Unions to political parties? |
No. Absent from legal framework
|
Is there a ban on donations from Trade Unions to candidates? |
No. Absent from legal framework
|
Is there a ban on anonymous donations to political parties? |
Yes. Contributions from anonymous donors may not be accepted. [If a political organisation or candidate receive contributions from an unknown donor, the contribution shall be delivered to the Treasury if there was no opportunity to refuse its acceptance.
(Art 6 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011 ) |
Is there a ban on anonymous donations to candidates? |
Yes. Contributions from anonymous donors may not be accepted. [If a political organisation or candidate receive contributions from an unknown donor, the contribution shall be delivered to the Treasury if there was no opportunity to refuse its acceptance.
(Art 6 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011 ) |
Is there a ban on state resources being given to or received by political parties or candidates (excluding regulated public funding)? |
Yes. Contributions may not be accepted from public bodies not included under the provisions of Chapter II
(Art 6 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011 ) |
Is there a ban on any other form of donation? |
No. Absent from legal framework
|
Is there a limit on the amount a donor can contribute to a political party over a time period (not election specific)? |
Yes. Political organisations and candidates may not accept contributions from legal entities exceeding ISK [400,000] per year.
(Art 7 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Is there a limit on the amount a donor can contribute to a political party in relation to an election? |
Yes. Art 6
Political organisations and candidates may accept contributions for their activities or an election campaign with the restrictions which result from the second to fifth paragraphs of this Article and the provisions of Article 7.
Art 7 places an annual restriction of 400,000 so it appears that applies to elections as well.
(Art 6 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011 ) |
Is there a limit on the amount a donor can contribute to a candidate? |
Yes. Political organisations and candidates may not accept contributions from legal entities exceeding ISK [400,000] per year.
(Art 7 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Eligibility criteria for direct public funding to political parties: Share of votes in previous election |
Yes. Each year allocations shall be made from the Treasury for the activities of political
organisations who have had at least one person elected to the Althingi or who have received at least 2.5% of votes in the most recent elections to the Althingi, in accordance with a budget decision in each instance.
(Art 3 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Eligibility criteria for direct public funding to political parties: Representation in elected body |
Yes. Each year allocations shall be made from the Treasury for the activities of political
organisations who have had at least one person elected to the Althingi or who have received at least 2.5% of votes in the most recent elections to the Althingi, in accordance with a budget decision in each instance.
(Art 3 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Eligibility criteria for direct public funding to political parties: Participation in election |
Yes. Political organisations who field candidates in all constituencies in elections to the Althingi may, upon the conclusion of the elections, apply for a special financial grant from the Treasury to cover expenses incurred in their election campaign, of a maximum of ISK 3 million.
(Art 3 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Eligibility criteria for direct public funding to political parties: Number of candidates |
No. Absent from legal framework
|
Eligibility criteria for direct public funding to political parties: Share of seats in previous election |
No. Absent from legal framework
|
Eligibility criteria for direct public funding to political parties: Share of votes in next election |
No. Absent from legal framework
|
Eligibility criteria for direct public funding to political parties: Registration as a political party |
No. Absent from legal framework
|
Eligibility criteria for direct public funding to political parties: Share of seats in next election |
No. Absent from legal framework
|
Eligibility criteria for direct public funding to political parties: Number of members |
No. Absent from legal framework
|
Eligibility criteria for direct public funding to political parties: Other |
No. Absent from legal framework
|
Allocation calculations for direct public funding to political parties: Proportional to votes received |
Yes. The amount shall be allocated in proportion to the number of votes.
(Art 3 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Allocation calculations for direct public funding to political parties: Equal |
No. Absent from legal framework
|
Allocation calculations for direct public funding to political parties: Proportional to seats received |
No. Absent from legal framework
|
Allocation calculations for direct public funding to political parties: Flat rate by votes received |
No. Absent from legal framework
|
Allocation calculations for direct public funding to political parties: Share of expenses reimbursed |
No. Absent from legal framework
|
Allocation calculations for direct public funding to political parties: Proportional to candidates fielded |
No. Absent from legal framework
|
Allocation calculations for direct public funding to political parties: Number of members |
No. Absent from legal framework
|
Allocation calculations for direct public funding to political parties: Other |
No. Absent from legal framework
|
Earmarking provisions for direct public funding to political parties: Campaign spending |
Yes. Political organisations who field candidates in all constituencies in elections to the Althingi may, upon the conclusion of the elections, apply for a special financial grant from the Treasury to cover expenses incurred in their election campaign, of a maximum of ISK 3 million.
(Art 3 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Earmarking provisions for direct public funding to political parties: Ongoing party activities |
Yes. Each year allocations shall be made from the Treasury for the activities of political
organisations
(Art 3 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Earmarking provisions for direct public funding to political parties: Intra-party institution |
No. Absent from legal framework
|
Earmarking provisions for direct public funding to political parties: Other |
No. Absent from legal framework
|
Allocation criteria for free or subsidized access to media for political parties: Equal |
Yes. "Some form of indirect funding of election campaigns is provided through free broadcasting time on the State-owned television channel at the time of election campaigns. There are no specific provisions on media space, but, according to the Law No. 53/2000 (Art.9) on Broadcasting, all radio and television stations are bound by the basic rules of democracy and freedom of expression. On this basis, parties are treated equally when allocating air time."
(GRECO (2008) Evaluation Report on Iceland, Transparency of Party Funding (Theme II)) |
Allocation criteria for free or subsidized access to media for political parties: Number of candidates |
No. Absent from legal framework
|
Allocation criteria for free or subsidized access to media for political parties: Share of seats |
No. Absent from legal framework
|
Allocation criteria for free or subsidized access to media for political parties: Share of votes in preceding election |
No. Absent from legal framework
|
Allocation criteria for free or subsidized access to media for political parties: Other |
No. Absent from legal framework
|
Are there provisions for free or subsidized access to media for candidates? |
No. Absent from legal framework
|
Provisions for any other form of indirect public funding: Premises for campaign meetings |
No. Absent from legal framework
|
Provisions for any other form of indirect public funding: Space for campaign materials |
No. Absent from legal framework
|
Provisions for any other form of indirect public funding: Tax relief |
Yes. Individual gifts and donations to churches, acknowledged charities, fields of culture, political parties and scientific research, though not above 0,75% of income in acc. with section B of Article 7 in the year of giving. The Minister of Finance decides via regulation which areas and institutions are governed by this point.
(Article 31(2), Law No. 90/2003 on Income Tax, amended 2016) |
Provisions for any other form of indirect public funding: Free or subsidised transport |
No. Absent from legal framework
|
Provisions for any other form of indirect public funding: Free or subsidised postage cost |
No. Absent from legal framework
|
Provisions for any other form of indirect public funding: Other |
No. Absent from legal framework
|
Is the provision of direct public funding to political parties related to gender equality among candidates? |
No. Absent from legal framework
|
Are there provisions for other financial advantages to encourage gender equality in political parties? |
No. Absent from legal framework
|
Is there a ban on vote buying? |
Yes. Banned election propaganda and election sabotage" include:] "To offer anyone money or advantages in order to have an effect on whether they cast a vote or for whom they cast a vote, to deprive a person or to threaten a person with the deprivation of his or her job or advantages for the same purpose, to promise money or advantages to a person if an election turns out this way or that way, to make it difficult for others to go to a polling session or to a pre-election polling station, as well as to apply coercive measures in connection with elections.
Pays, promises to pay or offers to pay someone money or some other gain with a view to having them vote in a particular way, or not vote (...) shall be subjected up to 2 years’ imprisonment, or to a fine if the offence is minor.
(Act on Parlimentary Elections to the Althing, No. 24/2000, Art. 117
Penal Code, Art. 103(4), amended 2015) |
Are there bans on state resources being used in favour or against a political party or candidate? |
No. Absent from legal framework
|
Are there limits on the amount a political party can spend? |
No. Absent from legal framework
|
Are there limits on the amount a candidate can spend? |
Yes. Candidates' total expenses [in an election campaign for national or municipal elections]
1)
may not exceed ISK 1 million, plus a premium as follows:
In an electoral district with over 50,000 residents 18 years of age and older, ISK 75 per person.
In an electoral district with 40,000-49,999 residents 18 years of age and older, ISK 100 per person.
In an electoral district with 20,000-39,999 residents 18 years of age and older, ISK 125 per English translation person.
In an electoral district with 10,000-19,999 residents 18 years of age and older, ISK 150 per person.
In an electoral district with fewer than 10,000 residents 18 years of age and older, ISK 175 per person.
(Art 7 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Reporting, oversight and sanctions |
Do political parties have to report regularly on their finances? |
Yes. Political organisations must keep consolidated accounts for all units they are comprised of, such as subsidiary associations, constituency boards, holding companies and related self-governing institutions.
(Art 8 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Do political parties have to report on their finances in relation to election campaigns? |
Yes. "Political parties shall report all their income and expenses in their income statements, except as other provided by law or statutory accounting standards."
[Candidates must prepare financial results of their election campaigns, listing all contributions and expenses in connection with it in accordance with general accounting rules
(
Art. 15 Rules on the Financial Accounts of Political Parties, 2007
Art 10 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Do candidates have to report on their campaign finances? |
Yes. [Candidates must prepare financial results of their election campaigns, listing all contributions and expenses in connection with it in accordance with general accounting rules
(Art 10 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Is information in reports from political parties and/or candidates to be made public? |
Yes. The National Audit Bureau shall, as soon as possible thereafter, publish an excerpt from the statements in a co-ordinated manner.
(Art 11 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Must reports from political parties and/or candidates reveal the identity of donors? |
Yes. The names of all legal entities providing contributions to the candidate's election campaign and the respective amounts shall be published. In addition, the names of all individuals providing contributions valued at over ISK 200,000 to the candidate's election campaign shall be published.
(Art 11 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Institutions receiving financial reports from political parties and/or candidates: Electoral Management Board |
No. Absent from legal framework
|
Institutions receiving financial reports from political parties and/or candidates: Auditing agency |
Yes. Political organisations must, prior to 1 October each year, send the National Audit Bureau their accounts from the previous year, cf. Art. 8, endorsed by auditors.
(Art 9 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Institutions receiving financial reports from political parties and/or candidates: Ministry |
No. Absent from legal framework
|
Institutions receiving financial reports from political parties and/or candidates: Special institution |
No. Absent from legal framework
|
Institutions receiving financial reports from political parties and/or candidates: Court |
No. Absent from legal framework
|
Institutions receiving financial reports from political parties and/or candidates: Other |
No. Absent from legal framework
|
Institution responsible for examining financial reports and/or investigating violations: Court |
No. Absent from legal framework
|
Institution responsible for examining financial reports and/or investigating violations: Ministry |
No. Absent from legal framework
|
Institution responsible for examining financial reports and/or investigating violations: Auditing agency |
Yes. The National Audit Bureau may, at any time, request all documentation to verify that the expenses of the election campaign and contributions from individuals and legal entities to the candidate are within the limits set in Chapter III.
(Art 10 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Institution responsible for examining financial reports and/or investigating violations: Electoral Management Body |
No. Absent from legal framework
|
Institution responsible for examining financial reports and/or investigating violations: Institution for this purpose |
No. Absent from legal framework
|
Institution responsible for examining financial reports and/or investigating violations: Other |
No. Absent from legal framework
|
Institutions with a formal role in political finance oversight: Court |
No. Absent from legal framework
|
Institutions with a formal role in political finance oversight: Ministry |
No. Absent from legal framework
|
Institutions with a formal role in political finance oversight: Auditing agency |
No. Absent from legal framework
|
Institutions with a formal role in political finance oversight: EMB |
No. Absent from legal framework
|
Institutions with a formal role in political finance oversight: Institution for this purpose |
No. Absent from legal framework
|
Institutions with a formal role in political finance oversight: Other |
No. Absent from legal framework
|
Sanctions for political finance infractions: Fines |
Yes. Anyone receiving contributions, or their equivalent, which may not be accepted according to Art. 6, or higher contributions than provided for in Art. 7, shall be subject to fines or imprisonment of up to two years.
(Art 6 and 7 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Sanctions for political finance infractions: Loss of public funding |
No. Absent from legal framework
|
Sanctions for political finance infractions: Penal/Criminal |
Yes. Anyone receiving contributions, or their equivalent, which may not be accepted according to Art. 6, or higher contributions than provided for in Art. 7, shall be subject to fines or imprisonment of up to two years.
(Art 6 and 7 Act on the Finances of Political Organisations and Candidates and their Information Disclosure 2006, amended 2011) |
Sanctions for political finance infractions: Forfeiture |
Yes. Unauthorised contributions accepted or contributions accepted in excess of limits provided for in this Act may be confiscated by the Treasury, as stated in Chapter VII A of the Criminal Code.
(Penal Code, Chapter VII A, amended 2015) |
Sanctions for political finance infractions: Deregistration of party |
No. Absent from legal framework
|
Sanctions for political finance infractions: Loss of elected office |
No. Absent from legal framework
|
Sanctions for political finance infractions: Suspension of political party |
No. Absent from legal framework
|
Sanctions for political finance infractions: Loss of nomination of candidate |
No. Absent from legal framework
|
Sanctions for political finance infractions: Loss of political rights |
No. Absent from legal framework
|
Sanctions for political finance infractions: Other |
No. Absent from legal framework
|