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Political organisations and candidates may not accept contributions from any legal entity that are higher than ISK 300,000 a year. Contributions in the form of discounts are exempt from this maximum, provided that they are general discounts from the market price, given publicly and are itemised in invoices. Legal entities that make contributions to political organisations or candidates shall itemise the total amount of such donations in their annual financial statements. Contributions from related entities shall be accounted for jointly.
Political organisations and candidates may accept donations from any legally competent individual, up to a maximum of ISK 300,000 a year. In this context, contributions do not include general membership fees to a political organisation that are collected regularly and that do not exceed ISK 100,000 a year.
The Icelandic National Audit Office shall issue guidelines on arrangements for selling services on behalf of political parties to ensure compliance with the provisions of the first and second paragraphs.
The total campaign cost of a candidate in a primary election 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 19,000 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.