Skatturinn, Iceland's tax and customs authority, confirmed on September 21, 2026 that Reglugerð nr. 1014/2026 entered into force on September 18, 2026, amending Iceland's regulation on the classification system for sustainable investments, the EU Taxonomy. The new regulation transposes Commission Delegated Regulation (EU) 2026/73 into Icelandic law, the first national transposition of that delegated act in the EEA EFTA states. It simplifies the Key Performance Indicator (KPI) disclosure templates and the Do No Significant Harm (DNSH) technical criteria that in-scope Icelandic issuers must report.
For companies already disclosing taxonomy alignment under Article 66(d) of the Annual Accounts Act (Lög nr. 3/2006), the amendment reduces reporting burden rather than adding obligations. It does not change which companies are in scope, nor the six environmental objectives of the EU Taxonomy; it reshapes how turnover, CapEx and OpEx alignment is presented and how the DNSH test is documented for pollution and hazardous substances.
What changes for EU Taxonomy KPI reporting?
Reglugerð nr. 1014/2026 simplifies the content and presentation of the KPI disclosures that in-scope undertakings publish for turnover, capital expenditure (CapEx) and operating expenditure (OpEx). The amendment adopts the simpler templates introduced at EU level by Delegated Regulation (EU) 2026/73, so Icelandic issuers report on the same consolidated format as their EU counterparts rather than maintaining a divergent national layout.
In practice, the previous reglugerð required more granular line-by-line breakdowns that several preparers found disproportionate to the size of the domestic market. The simplified templates consolidate those lines and align the disclosure fields with the EU Taxonomy Article 8 Disclosures Delegated Act as amended. Issuers should map their current reporting workbook to the new template lines before the next annual reporting cycle.
Which DNSH technical criteria did Iceland simplify?
The second block of changes concerns the DNSH (Do No Significant Harm) test, specifically the technical screening criteria for pollution prevention and the use of hazardous substances. Reglugerð nr. 1014/2026 transposes the simplified EU criteria into Icelandic law, narrowing the technical assessment an issuer must perform to prove an activity does no significant harm to the pollution-prevention and circular-economy objectives.
This matters because Icelandic taxonomy disclosures already carry a country-specific footnote regime: under Reglugerð nr. 10/2024, issuers must publish all template lines even for EU acts not yet transposed in Iceland, with a footnote stating the relevant act has not been transposed and the data is therefore not disclosed. The new reglugerð does not remove that regime, but it reduces the number of line items where the pollution and hazardous-substances DNSH test needs separate documentation.
Who must apply Reglugerð nr. 1014/2026, and from when?
The regulation applies to undertakings falling under Article 66(d) of Lög nr. 3/2006 on annual accounts, the Icelandic non-financial information disclosure obligation. These are large undertakings and public-interest entities that already publish non-financial and taxonomy information through Skatturinn's annual-accounts registry. Skatturinn explicitly advises the officers of those companies to familiarise themselves with the changes.
The rules have been in force since September 18, 2026, so they govern the next reporting cycle. Iceland has not yet transposed the CSRD, because the EEA Joint Committee Decision incorporating it is still pending, so the in-scope population is defined by Act 3/2006 and Act nr. 25/2023 on sustainability disclosure in financial services, not by the CSRD wave structure. The disclosure channel, Skatturinn's annual-accounts registry, stays the same.
| Area | Before Reglugerð nr. 1014/2026 | From September 18, 2026 |
|---|---|---|
| KPI templates (turnover, CapEx, OpEx) | Granular national line-by-line breakdown | Simplified templates aligned with Delegated Regulation (EU) 2026/73 |
| DNSH pollution and hazardous substances | Broader technical assessment | Simplified technical screening criteria transposed from the EU act |
| In-scope population | Article 66(d) of Act 3/2006 undertakings | Unchanged, still Article 66(d) of Act 3/2006 |
| Disclosure channel | Skatturinn annual-accounts registry | Unchanged |
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Next steps for in-scope issuers: confirm your entity falls under Article 66(d) of Act 3/2006 and reports through Skatturinn's registry; retrieve the consolidated text from the Stjórnartíðindi publication; remap your turnover, CapEx and OpEx workbooks to the simplified KPI templates; and brief the sustainability reporting team before the next annual reporting cycle. Continuous, per-jurisdiction monitoring surfaces a national transposition like this the moment the official journal publishes it.
