Other taxes in Iceland
Iceland: Other taxes was 3.0% in 2023. ◆ Volatile
Other taxes in Iceland, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
In 2023, other taxes in Iceland stood at 3.0%.
Compared with earlier readings it is down 3.0% on the previous year and down 31.2% over ten years.
Over the whole period, other taxes in Iceland peaked at 34.0% in 2016 and was at its lowest, 0.7%, in 2006.
Iceland ranks 28th of 148 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Other taxes in Iceland, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1972 | 5.4% | — |
| 1973 | 5.1% | -5.5% |
| 1974 | 5.1% | +0.5% |
| 1975 | 5.7% | +11.7% |
| 1976 | 6.3% | +11.4% |
| 1977 | 6.2% | -2.6% |
| 1978 | 6.1% | -1.2% |
| 1979 | 6.9% | +12.9% |
| 1980 | 6.6% | -3.7% |
| 1981 | 6.9% | +4.4% |
| 1982 | 6.9% | -0.5% |
| 1983 | 6.6% | -4.1% |
| 1984 | 6.3% | -5.2% |
| 1985 | 6.6% | +5.2% |
| 1986 | 6.4% | -2.9% |
| 1987 | 6.5% | +1.5% |
| 1988 | 6.0% | -7.8% |
| 1989 | 6.3% | +5.4% |
| 1990 | 7.0% | +10.9% |
| 1991 | 4.3% | -38.8% |
| 1992 | 3.7% | -14.6% |
| 1993 | 3.9% | +5.5% |
| 1994 | 3.5% | -10.6% |
| 1995 | 3.3% | -3.4% |
| 1996 | 3.1% | -6.5% |
| 1997 | 3.1% | -2.4% |
| 1998 | 2.9% | -4.5% |
| 1999 | 2.8% | -4.8% |
| 2000 | 3.2% | +14.2% |
| 2001 | 3.3% | +5.2% |
| 2002 | 3.4% | +1.0% |
| 2003 | 2.2% | -34.3% |
| 2004 | 2.0% | -10.7% |
| 2005 | 1.5% | -24.9% |
| 2006 | 0.7% | -50.9% |
| 2007 | 1.1% | +47.5% |
| 2008 | 1.0% | -10.4% |
| 2009 | 2.0% | +104.1% |
| 2010 | 2.9% | +49.4% |
| 2011 | 3.2% | +8.3% |
| 2012 | 4.3% | +35.7% |
| 2013 | 4.4% | +2.7% |
| 2014 | 8.8% | +97.8% |
| 2015 | 6.6% | -25.0% |
| 2016 | 34.0% | +417.5% |
| 2017 | 3.4% | -90.0% |
| 2018 | 3.3% | -3.4% |
| 2019 | 3.6% | +10.7% |
| 2020 | 4.5% | +23.0% |
| 2021 | 3.4% | -24.5% |
| 2022 | 3.1% | -7.2% |
| 2023 | 3.0% | -3.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5.8% | 5.1% | 6.9% | 8 |
| 1980s | 6.5% | 6.0% | 6.9% | 10 |
| 1990s | 3.8% | 2.8% | 7.0% | 10 |
| 2000s | 2.0% | 0.7% | 3.4% | 10 |
| 2010s | 7.5% | 2.9% | 34.0% | 10 |
| 2020s | 3.5% | 3.0% | 4.5% | 4 |
Countries ranked near Iceland
More public sector data for Iceland
- Military expenditure (current USD), per capita 0 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0 current USD per US$ of GDP (2024)
- Military expenditure (current USD), gaps filled 0 current USD (2024)
- Military expenditure (current USD), per square kilometre 0 current USD per square kilometre (2023)
- Tax revenue 23.2% (2023)
- Capital stock, General government, Current prices, Domestic currency 1,595 (2019)
- Taxes on income, profits and capital gains 34.6% (2023)
- Capital stock, General government, Constant prices, Percent of GDP 51.25 (2019)
- Capital stock, General government, Constant prices, Purchasing power 10.26 (2019)
- Taxes on goods and services 35.2% (2023)
Frequently asked questions
- What is other taxes in Iceland?
- Other taxes in Iceland was 3.0% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest other taxes recorded in Iceland?
- The highest recorded value was 34.0% in 2016.
- What is the lowest other taxes recorded in Iceland?
- The lowest recorded value was 0.7% in 2006.
- How does Iceland rank for other taxes?
- Iceland ranks 28th out of 148 countries with data for 2023.
- Is other taxes rising or falling in Iceland?
- Over the last ten years it is down 31.2%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Other taxes (% of revenue). Statizoid updates them automatically from the source API.
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About this data
Other taxes include employer payroll or labor taxes, taxes on property, and taxes not allocable to other categories, such as penalties for late payment or nonpayment of taxes. 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.