Iceland vs Small states: Taxes on income, profits and capital gains
Iceland
34.6%
in 2023
Small states
24.1%
in 2022
Iceland rank
32nd
Small states rank
32nd
Taxes on income, profits and capital gains over time
- Iceland
- Small states
How they compare
Iceland currently reports 34.6% against 24.1% in Small states, a difference of 10.5%.
That makes Iceland's figure about 1.4 times Small states's.
The two have swapped places 6 times across 32 shared years of data; in 1991 it was Iceland ahead.
Iceland ranks 32nd and Small states ranks 32nd of 153 countries.
Iceland has averaged higher in every one of the 4 decades both report.
Head to head by decade
| Decade | Iceland | Small states | Difference | Ahead |
|---|---|---|---|---|
| 1990s | 21.7% | 18.6% | 3.1% | Iceland |
| 2000s | 26.0% | 22.8% | 3.2% | Iceland |
| 2010s | 26.4% | 24.5% | 1.9% | Iceland |
| 2020s | 32.3% | 24.0% | 8.3% | Iceland |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher taxes on income, profits and capital gains, Iceland or Small states?
- Iceland, at 34.6% against 24.1% in Small states as of 2023.
- What is the difference in taxes on income, profits and capital gains between Iceland and Small states?
- 10.5%, with Iceland ahead.
- How many years of comparable data are there for Iceland and Small states?
- 32 years are reported by both, from 1991 to 2022.
- How do Iceland and Small states rank globally for taxes on income, profits and capital gains?
- Iceland ranks 32nd and Small states ranks 32nd of 153 countries.
- Where does this data come from?
- Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as Taxes on income, profits and capital gains (% of revenue). Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.