Taxes on income, profits, and capital gains, Ratio of this level of in Iceland
Iceland: Taxes on income, profits, and capital gains, Ratio of this level of was 0.5315 in 2020. ▬ Flat
Taxes on income, profits, and capital gains, Ratio of this level of in Iceland, 1998–2020
Source: International Monetary Fund.
Analysis
The most recent figure for taxes on income, profits, and capital gains, ratio of this level of in Iceland is 0.5315, measured in 2020.
Compared with earlier readings it is down 2.4% on the previous year and down 4.1% over ten years.
Over the whole period, taxes on income, profits, and capital gains, ratio of this level of in Iceland peaked at 0.5996 in 2006 and was at its lowest, 0.523, in 2012.
That places Iceland 69th out of 80 countries with data for 2020, putting it in the bottom quarter.
Taxes on income, profits, and capital gains, Ratio of this level of in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1998 | 0.5288 | — |
| 1999 | 0.5555 | +5.0% |
| 2000 | 0.5563 | +0.2% |
| 2001 | 0.5422 | -2.5% |
| 2002 | 0.5332 | -1.7% |
| 2003 | 0.5457 | +2.4% |
| 2004 | 0.5579 | +2.2% |
| 2005 | 0.5867 | +5.2% |
| 2006 | 0.5996 | +2.2% |
| 2007 | 0.594 | -0.9% |
| 2008 | 0.5979 | +0.7% |
| 2009 | 0.5514 | -7.8% |
| 2010 | 0.5544 | +0.5% |
| 2011 | 0.5256 | -5.2% |
| 2012 | 0.523 | -0.5% |
| 2013 | 0.5338 | +2.1% |
| 2014 | 0.5666 | +6.2% |
| 2015 | 0.5526 | -2.5% |
| 2016 | 0.5607 | +1.5% |
| 2017 | 0.5673 | +1.2% |
| 2018 | 0.549 | -3.2% |
| 2019 | 0.5448 | -0.8% |
| 2020 | 0.5315 | -2.4% |
Iceland compared with similar countries
- Iceland's 0.5315 is below the median for high income countries, which is 0.8985, 59% of the median. (42 countries reporting)
- Iceland's 0.5315 is below the median for Europe & Central Asia, which is 0.877, 61% of the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.5422 | 0.5288 | 0.5555 | 2 |
| 2000s | 0.5665 | 0.5332 | 0.5996 | 10 |
| 2010s | 0.5478 | 0.523 | 0.5673 | 10 |
| 2020s | 0.5315 | 0.5315 | 0.5315 | 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 income, profits, and capital gains, ratio of this level of in Iceland?
- Taxes on income, profits, and capital gains, ratio of this level of in Iceland was 0.5315 in 2020, according to International Monetary Fund.
- What is the highest taxes on income, profits, and capital gains, ratio of this level of recorded in Iceland?
- The highest recorded value was 0.5996 in 2006.
- What is the lowest taxes on income, profits, and capital gains, ratio of this level of recorded in Iceland?
- The lowest recorded value was 0.523 in 2012.
- How does Iceland rank for taxes on income, profits, and capital gains, ratio of this level of?
- Iceland ranks 69th out of 80 countries with data for 2020.
- Is taxes on income, profits, and capital gains, ratio of this level of rising or falling in Iceland?
- Over the last ten years it is down 4.1%. 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 income, profits, and capital gains, 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.