Taxes on income, profits and capital gains (current LCU) in Iceland
Iceland: Taxes on income, profits and capital gains (current LCU) was 477.81 billion current LCU in 2023. ◆ Volatile
Latest (2023)
477.81 billion current LCU
Change on year
up 19.4%
World rank
50th
of 153 countries
All-time high
477.81 billion current LCU
in 2023
All-time low
33.50 million current LCU
in 1972
Years of data
52
1972–2023
Taxes on income, profits and capital gains in Iceland, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
The most recent figure for taxes on income, profits and capital gains in Iceland is 477.81 billion current LCU, measured in 2023. That is the highest value across all 52 years on record.
Compared with earlier readings it is up 19.4% on the previous year and up 183.7% over ten years.
Over the whole period, taxes on income, profits and capital gains in Iceland peaked at 477.81 billion current LCU in 2023 and was at its lowest, 33.50 million current LCU, in 1972.
Iceland ranks 50th of 153 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Taxes on income, profits and capital gains (current LCU) in Iceland, year by year
| Year | current LCU | Change |
|---|---|---|
| 1972 | 33.50 million current LCU | — |
| 1973 | 49.00 million current LCU | +46.3% |
| 1974 | 50.80 million current LCU | +3.7% |
| 1975 | 52.00 million current LCU | +2.4% |
| 1976 | 71.50 million current LCU | +37.5% |
| 1977 | 85.20 million current LCU | +19.2% |
| 1978 | 168.40 million current LCU | +97.7% |
| 1979 | 323.60 million current LCU | +92.2% |
| 1980 | 438.30 million current LCU | +35.4% |
| 1981 | 700.70 million current LCU | +59.9% |
| 1982 | 1.19 billion current LCU | +69.9% |
| 1983 | 1.83 billion current LCU | +53.7% |
| 1984 | 2.17 billion current LCU | +18.8% |
| 1985 | 2.31 billion current LCU | +6.3% |
| 1986 | 4.14 billion current LCU | +78.9% |
| 1987 | 4.67 billion current LCU | +12.8% |
| 1988 | 8.41 billion current LCU | +80.3% |
| 1989 | 15.27 billion current LCU | +81.5% |
| 1990 | 20.95 billion current LCU | +37.1% |
| 1991 | 23.62 billion current LCU | +12.8% |
| 1992 | 24.62 billion current LCU | +4.2% |
| 1993 | 24.64 billion current LCU | +0.1% |
| 1994 | 27.62 billion current LCU | +12.1% |
| 1995 | 29.94 billion current LCU | +8.4% |
| 1996 | 35.03 billion current LCU | +17.0% |
| 1997 | 32.74 billion current LCU | -6.5% |
| 1998 | 41.40 billion current LCU | +26.4% |
| 1999 | 51.80 billion current LCU | +25.1% |
| 2000 | 57.65 billion current LCU | +11.3% |
| 2001 | 64.15 billion current LCU | +11.3% |
| 2002 | 66.52 billion current LCU | +3.7% |
| 2003 | 73.43 billion current LCU | +10.4% |
| 2004 | 83.55 billion current LCU | +13.8% |
| 2005 | 105.70 billion current LCU | +26.5% |
| 2006 | 128.10 billion current LCU | +21.2% |
| 2007 | 143.38 billion current LCU | +11.9% |
| 2008 | 157.51 billion current LCU | +9.9% |
| 2009 | 132.27 billion current LCU | -16.0% |
| 2010 | 132.87 billion current LCU | +0.4% |
| 2011 | 140.24 billion current LCU | +5.5% |
| 2012 | 148.12 billion current LCU | +5.6% |
| 2013 | 168.44 billion current LCU | +13.7% |
| 2014 | 204.26 billion current LCU | +21.3% |
| 2015 | 210.54 billion current LCU | +3.1% |
| 2016 | 240.83 billion current LCU | +14.4% |
| 2017 | 274.57 billion current LCU | +14.0% |
| 2018 | 280.95 billion current LCU | +2.3% |
| 2019 | 288.81 billion current LCU | +2.8% |
| 2020 | 287.48 billion current LCU | -0.5% |
| 2021 | 295.63 billion current LCU | +2.8% |
| 2022 | 400.07 billion current LCU | +35.3% |
| 2023 | 477.81 billion current LCU | +19.4% |
Iceland compared with similar countries
- Iceland's 477.81 billion current LCU is above the median for high income countries, which is 52.92 billion current LCU, 9.0× the median. (55 countries reporting)
- Iceland's 477.81 billion current LCU is above the median for Europe & Central Asia, which is 68.60 billion current LCU, 7.0× the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 104.25 million current LCU | 33.50 million current LCU | 323.60 million current LCU | 8 |
| 1980s | 4.11 billion current LCU | 438.30 million current LCU | 15.27 billion current LCU | 10 |
| 1990s | 31.24 billion current LCU | 20.95 billion current LCU | 51.80 billion current LCU | 10 |
| 2000s | 101.23 billion current LCU | 57.65 billion current LCU | 157.51 billion current LCU | 10 |
| 2010s | 208.96 billion current LCU | 132.87 billion current LCU | 288.81 billion current LCU | 10 |
| 2020s | 365.25 billion current LCU | 287.48 billion current LCU | 477.81 billion current LCU | 4 |
Countries ranked near Iceland
More public sector data for Iceland
- Democracy, 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)
- Elected parliament, 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)
- 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)
Frequently asked questions
- What is taxes on income, profits and capital gains in Iceland?
- Taxes on income, profits and capital gains in Iceland was 477.81 billion current LCU in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on income, profits and capital gains recorded in Iceland?
- The highest recorded value was 477.81 billion current LCU in 2023.
- What is the lowest taxes on income, profits and capital gains recorded in Iceland?
- The lowest recorded value was 33.50 million current LCU in 1972.
- How does Iceland rank for taxes on income, profits and capital gains?
- Iceland ranks 50th out of 153 countries with data for 2023.
- Is taxes on income, profits and capital gains rising or falling in Iceland?
- Over the last ten years it is up 183.7%. 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 Taxes on income, profits and capital gains (current LCU). Statizoid updates them automatically from the source API.
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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 in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.