The Business Council of Iceland (Viðskiptaráð) has told Parliament that potential tax revenues from oil extraction in the Dreki area could reach between 51 and 102 million Icelandic krónur (ISK) per Icelander, according to a report by Vísir. The claim was made in a presentation to Alþingi, Iceland’s national parliament.
The Business Council described the stakes of oil exploration in the Dreki area as significant. “The benefits of oil exploration could be adventurous,” Viðskiptaráð told members of Parliament, according to Vísir. (This quote was originally given in Icelandic and has been translated.)
Oil exploration in the Dreki area, which lies off the northeast coast of Iceland, has become a significant political issue in recent months. However, the specific assumptions and calculations used by the Business Council to arrive at the projected tax revenue per individual have not yet been disclosed. It is also unclear which taxes and what time frame are included in these revenue estimates.
The potential benefits described by the Business Council remain hypothetical, as the basis for their estimates has not yet been made public. The issue continues to be debated in Parliament and beyond.
Sources
- Vísir (first reported) in Icelandic
