Further investment in Laugarás to be reassessed

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Laugarás Lagoon will reassess planned further development after Iceland’s proposed VAT increase for geothermal lagoons, from 11% to 24%. Managing director Bryndís Björnsdóttir said the tax change could affect the company’s investment plans.

Bryndís Björnsdóttir, managing director of Laugarás Lagoon, says the planned increase in VAT on geothermal lagoons, from 11% to 24%, will prompt the company to reassess further development in Laugarás.