Known for its beautiful Northern Lights, Iceland is a small Nordic island nation known for its laws on freedom and equality for all citizens. In 2008, after having suffered a massive financial crisis, it became successful in increasing its GDP to $23 billion by 2017. Iceland is a country primarily supported by fisheries and manufacturing industries which allow for the harvesting and export of marine products and goods. Iceland also has a relatively complicated tax system where a large share of individual income goes to the government, including municipal authorities, in order to provide welfare and benefits to its citizens. Learn more about the Labor Code in Iceland throughout this article!