Voters are expected to punish the incumbent coalition after the Panama Papers revealed a global tax evasion scandal that ensnared several senior politicians and forced former prime minister Sigmundur David Gunnlaugsson to resign.

Although the current government of the conservative Independence Party and the centrist Progressive Party survived the scandal, it promised a snap election six months before the end of its term in spring 2017.

"Today, general elections take place because of corruption within the governing parties," the Pirate Party said in a statement.

"The Panama Papers revealed a great number of Icelanders within them, including three ministers in the current government. This is why we vote today," it added.