Annie Mist To Pay ISK 13 Million in Supertax Skip to content

Annie Mist To Pay ISK 13 Million in Supertax

Annie Mist, the world’s fittest woman will have to bring the USD 250.000 or ISK 29.000.000 prize money to the Icelandic Central Bank within two weeks; otherwise she risks a prosecution for violating the rules on foreign exchange. She can expect to pay the Icelandic supertax.

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Annie Mist, the world’s fittest woman.

The prize money is paid in US dollars and surpasses the legal limit of foreign currency ownership for Icelandic citizens living in Iceland; Annie Mist is a resident in Iceland and cannot get the exemption Icelandic citizens living abroad get in terms of foreign currency possession. She will have to take the money to the next bank branch or the Central Bank and convert the amount into Icelandic krónur. The Icelandic Króna has recently dropped by 6,5 percent and it will be taken into account when the currency exchange rate is decided by the Central Bank.

Annie Mist can expect to pay the Icelandic tax authorities an estimated ISK 13.000.000 (USD 111.731 or EUR 78.816) in supertax. However, she will not have to pay any additional fees as the amount is paid directly to her, pressan.is reports.

Annie Mist won the amount in a crossfit competition held in the state of California and due to a double taxation convention between the United States and Iceland, Annie Mist is only required to pay tax to the Icelandic tax authorities as the amount exceeds USD 20.000 or ISK 2.327.000 (EUR 14.000).

Steinthór Haraldsson with the Commissioner of the Inland Revenue told pressan.is that in some instances expenses can be deduced from the tax base if directly connected to athletic pursuits or training:

“It’s not like going to work at 8 am. Sometimes salary payments are paid simultaneously. You don’t get paid for getting sweaty in the gym,” he concluded.

Crossfit is still not acknowledged as an official sport in Iceland but with her victory Annie Mistgraduatesfrom an amateur to a professional athlete in the sport.

Eyjan.is reported in late may that Árni Páll Árnason, Iceland’s secretary of Commerce, had decided to prolong the currency restrictions for the next four years or until 2015.

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