Taxes on goods and services, Ratio of this level of government's in Iceland
Iceland: Taxes on goods and services, Ratio of this level of government's was 0.9814 in 2020. ▬ Flat
Taxes on goods and services, Ratio of this level of government's in Iceland, 1998–2020
Source: International Monetary Fund.
Analysis
Iceland recorded 0.9814 for taxes on goods and services, ratio of this level of government's in 2020.
That represents a change of up 0.2% on the previous year and down 0.4% over ten years.
Over the whole period, taxes on goods and services, ratio of this level of government's in Iceland peaked at 1 in 1998 and was at its lowest, 0.928, in 2006.
Iceland ranks 34th of 80 countries on this measure, in the middle of the range.
Taxes on goods and services, Ratio of this level of government's in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1998 | 1 | — |
| 1999 | 1 | +0.0% |
| 2000 | 1 | +0.0% |
| 2001 | 0.9735 | -2.7% |
| 2002 | 0.9765 | +0.3% |
| 2003 | 0.9794 | +0.3% |
| 2004 | 0.97 | -1.0% |
| 2005 | 0.9618 | -0.8% |
| 2006 | 0.928 | -3.5% |
| 2007 | 0.934 | +0.6% |
| 2008 | 0.9559 | +2.3% |
| 2009 | 0.9807 | +2.6% |
| 2010 | 0.9852 | +0.5% |
| 2011 | 0.9948 | +1.0% |
| 2012 | 0.9966 | +0.2% |
| 2013 | 0.9914 | -0.5% |
| 2014 | 0.9939 | +0.3% |
| 2015 | 0.9892 | -0.5% |
| 2016 | 0.9802 | -0.9% |
| 2017 | 0.9797 | -0.0% |
| 2018 | 0.9767 | -0.3% |
| 2019 | 0.9791 | +0.2% |
| 2020 | 0.9814 | +0.2% |
Iceland compared with similar countries
- Iceland's 0.9814 is above the median for high income countries, which is 0.9695, 1.0× the median. (42 countries reporting)
- Iceland's 0.9814 is above the median for Europe & Central Asia, which is 0.978, 1.0× the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1 | 1 | 1 | 2 |
| 2000s | 0.966 | 0.928 | 1 | 10 |
| 2010s | 0.9867 | 0.9767 | 0.9966 | 10 |
| 2020s | 0.9814 | 0.9814 | 0.9814 | 1 |
Countries ranked near Iceland
More public sector data for Iceland
- Democracy, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Democracy 7 (2025)
- Chief executive of the government is elected 1 (2025)
- Elected parliament 1 (2025)
- Men's universal right to vote 1 (2025)
Frequently asked questions
- What is taxes on goods and services, ratio of this level of government's in Iceland?
- Taxes on goods and services, ratio of this level of government's in Iceland was 0.9814 in 2020, according to International Monetary Fund.
- What is the highest taxes on goods and services, ratio of this level of government's recorded in Iceland?
- The highest recorded value was 1 in 1998.
- What is the lowest taxes on goods and services, ratio of this level of government's recorded in Iceland?
- The lowest recorded value was 0.928 in 2006.
- How does Iceland rank for taxes on goods and services, ratio of this level of government's?
- Iceland ranks 34th out of 80 countries with data for 2020.
- Is taxes on goods and services, ratio of this level of government's rising or falling in Iceland?
- Over the last ten years it is down 0.4%. The long-run trend across the full record is flat.
- Where does this Iceland data come from?
- The figures come from International Monetary Fund, published as part of Taxes on goods and services, Ratio of this level of government's revenue from this item to total general government revenue from this item, Percent (Central government). Statizoid updates them automatically from the source API.
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About this data
The Fiscal Decentralization dataset includes fiscal decentralization indicators for a sample of IMF member countries. The following indicators are included in the dataset: Revenue and Expenditure Decentralization Shares; Transfer dependency and Vertical Fiscal Imbalances; Deficit and Debt; Allocation of expenditure (economic classification); Allocation of expenditure (functional classification); Allocation of non-Tax Revenues; and Allocation of Taxes.