Annual government taxes and social contributions receipts — Total tax in Iceland
Iceland: Annual government taxes and social contributions receipts — Total tax was 1.69 million National currency in 2024. ◆ Volatile
Annual government taxes and social contributions receipts — Total tax in Iceland, 1998–2024
Source: Organisation for Economic Co-operation and Development. Measured in National currency.
Analysis
The most recent figure for annual government taxes and social contributions receipts — total tax in Iceland is 1.69 million National currency, measured in 2024. That is the highest value across all 27 years on record.
That represents a change of up 7.8% on the previous year and up 117.4% over ten years.
Over the whole period, annual government taxes and social contributions receipts — total tax in Iceland peaked at 1.69 million National currency in 2024 and was at its lowest, 203,055 National currency, in 1998.
Iceland ranks 12th of 30 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.
Annual government taxes and social contributions receipts — Total tax in Iceland, year by year
| Year | National currency | Change |
|---|---|---|
| 1998 | 203,055 National currency | — |
| 1999 | 233,530 National currency | +15.0% |
| 2000 | 254,710 National currency | +9.1% |
| 2001 | 273,566 National currency | +7.4% |
| 2002 | 288,715 National currency | +5.5% |
| 2003 | 309,683 National currency | +7.3% |
| 2004 | 353,160 National currency | +14.0% |
| 2005 | 418,104 National currency | +18.4% |
| 2006 | 486,745 National currency | +16.4% |
| 2007 | 534,376 National currency | +9.8% |
| 2008 | 546,967 National currency | +2.4% |
| 2009 | 510,414 National currency | -6.7% |
| 2010 | 542,626 National currency | +6.3% |
| 2011 | 587,194 National currency | +8.2% |
| 2012 | 628,057 National currency | +7.0% |
| 2013 | 680,168 National currency | +8.3% |
| 2014 | 777,921 National currency | +14.4% |
| 2015 | 816,267 National currency | +4.9% |
| 2016 | 1.27 million National currency | +55.5% |
| 2017 | 989,602 National currency | -22.1% |
| 2018 | 1.04 million National currency | +5.3% |
| 2019 | 1.06 million National currency | +2.0% |
| 2020 | 1.06 million National currency | +0.0% |
| 2021 | 1.15 million National currency | +7.9% |
| 2022 | 1.38 million National currency | +20.2% |
| 2023 | 1.57 million National currency | +13.7% |
| 2024 | 1.69 million National currency | +7.8% |
Iceland compared with similar countries
- Iceland's 1.69 million National currency is above the median for Europe & Central Asia, which is 776,350 National currency, 2.2× the median. (22 countries reporting)
- Iceland's 1.69 million National currency is above the median for high income countries, which is 1.04 million National currency, 1.6× the median. (28 countries reporting)
Biggest year-on-year movements
Years where Annual government taxes and social contributions receipts — Total tax in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2016 | +55.5% | 816,267 National currency | 1.27 million National currency |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 218,292 National currency | 203,055 National currency | 233,530 National currency | 2 |
| 2000s | 397,644 National currency | 254,710 National currency | 546,967 National currency | 10 |
| 2010s | 839,724 National currency | 542,626 National currency | 1.27 million National currency | 10 |
| 2020s | 1.37 million National currency | 1.06 million National currency | 1.69 million National currency | 5 |
Countries ranked near Iceland
- 9 Sweden 2.72 million National currency compare
- 10 Norway 2.13 million National currency compare
- 11 Germany 1.72 million National currency compare
- 13 Denmark 1.37 million National currency compare
- 14 France 1.27 million National currency compare
- 15 United Kingdom 1.13 million National currency compare
More economy & growth data for Iceland
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.96 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.48 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps -851.71 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0221 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -2,170 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -201.70 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -107.12 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0052 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita -514.02 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is annual government taxes and social contributions receipts — total tax in Iceland?
- Annual government taxes and social contributions receipts — total tax in Iceland was 1.69 million National currency in 2024, according to Organisation for Economic Co-operation and Development.
- What is the highest annual government taxes and social contributions receipts — total tax recorded in Iceland?
- The highest recorded value was 1.69 million National currency in 2024.
- What is the lowest annual government taxes and social contributions receipts — total tax recorded in Iceland?
- The lowest recorded value was 203,055 National currency in 1998.
- How does Iceland rank for annual government taxes and social contributions receipts — total tax?
- Iceland ranks 12th out of 30 countries with data for 2024.
- Is annual government taxes and social contributions receipts — total tax rising or falling in Iceland?
- Over the last ten years it is up 117.4%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Annual government taxes and social contributions receipts — Total tax receipts and actual social contributions. Statizoid updates them automatically from the source API.
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About this data
This table presents taxes and social contribution receipts for General Government and its sub-sectors: central, local and state (regional) government and social security, as well as for institutions of the European Union. Total tax receipts comprise taxes on production and imports, current taxes on income wealth etc. and capital taxes. Social contribution receipts comprise actual and imputed social contributions. The presentation is on a country-by-country basis. Users are recommended to select one country (or area) at a time in the ‘Reference area’ filter. Data is presented for each country in national currency as well as in euros for the European Union and the euro area. These indicators were presented in the previous dissemination system in the SNA_TABLE10 dataset. See ANA Changes for information on changes in methodology: ANA Changes Explore also the Government Finances and Public Sector Debt webpage: Government Finances and Public Sector Debt webpage OECD statistics contact: STAT.Contact@oecd.org