7

Political organisations and candidates may not accept higher donations from a legal entity than ISK 400,000 annually. Donations in the form of discounts are exempt from this maximum, provided that they are general discounts from the market price, are given publicly and are itemised in invoices. Legal entities that make donations to political organisations or candidates shall itemise the total amount of such donations in their annual financial statements. Donations from related entities shall be accounted for jointly.
Initial contributions, i.e. donations from legally competent individuals and legal entities that are provided in connection with the establishment of political organisations, may be of a maximum amount equivalent to two times the maximum amount pursuant to the first paragraph.
No political organisation or candidate may accept donations from any legally competent individual that are higher than ISK 400,000 annually.
The total campaign cost of a candidate in an election to the Althingi or a municipal government may not exceed ISK 1 million, added to a supplement as indicated below:
In an electoral district with more than 50,000 inhabitants aged 18 and above, ISK 75 per person
In an electoral district with 40,000 to 49,999 inhabitants aged 18 and above, ISK 100 per person
In an electoral district with 20,000 to 39,999 inhabitants aged 18 and above, ISK 125 per person
In an electoral district with 10,000 to 19,999 inhabitants aged 18 and above, ISK 150 per person
In an electoral district with fewer than 10,000 inhabitants aged 18 and above, ISK 175 per person.
The total campaign costs of a candidate in presidential elections may not exceed the equivalent of two times the amount specified in the fourth paragraph per person on the electoral poll for the whole country.