Canada vs Iceland: Taxes on income, profits, and capital gains, Transactions
Taxes on income, profits, and capital gains, Transactions over time
- Canada
- Iceland
How they compare
Iceland currently reports 920.16 billion against 564.48 billion in Canada, a difference of 355.68 billion.
That makes Iceland's figure about 1.6 times Canada's.
The two have swapped places 3 times across 24 shared years of data; in 2002 it was Canada ahead.
Canada ranks 12th and Iceland ranks 9th of 35 countries.
Across the 3 decades both report, Canada averaged higher in 1 and Iceland in 2.
Head to head by decade
| Decade | Canada | Iceland | Difference | Ahead |
|---|---|---|---|---|
| 2000s | 224.76 billion | 193.45 billion | 31.31 billion | Canada |
| 2010s | 309.96 billion | 381.52 billion | 71.55 billion | Iceland |
| 2020s | 495.73 billion | 733.38 billion | 237.66 billion | Iceland |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher taxes on income, profits, and capital gains, transactions, Canada or Iceland?
- Iceland, at 920.16 billion against 564.48 billion in Canada as of 2025.
- What is the difference in taxes on income, profits, and capital gains, transactions between Canada and Iceland?
- 355.68 billion, with Iceland ahead.
- How many years of comparable data are there for Canada and Iceland?
- 24 years are reported by both, from 2002 to 2025.
- How do Canada and Iceland rank globally for taxes on income, profits, and capital gains, transactions?
- Canada ranks 12th and Iceland ranks 9th of 35 countries.
- Where does this data come from?
- International Monetary Fund, published as Taxes on income, profits, and capital gains, Transactions (Statement of operations, General government). Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
The Government Finance Statistics (GFS) includes government revenues and expenditures, government net lending / net borrowing (the surplus / deficit) financing transactions and balance sheet data on government assets and liabilities. Statistics are available for different levels of government including budgetary central government, central government and general government.