Effective tax rates - Corporate tax statistics — Effective average in Iceland
Iceland: Effective tax rates - Corporate tax statistics — Effective average was 24.29 Percentage of taxable income in 2025. ▲ Rising
Effective tax rates - Corporate tax statistics — Effective average in Iceland, 2017–2025
Source: Organisation for Economic Co-operation and Development. Measured in Percentage of taxable income.
Analysis
The most recent figure for effective tax rates - corporate tax statistics — effective average in Iceland is 24.29 Percentage of taxable income, measured in 2025.
That represents a change of down 4.7% on the previous year and up 20.5% over ten years.
Over the whole period, effective tax rates - corporate tax statistics — effective average in Iceland peaked at 25.48 Percentage of taxable income in 2024 and was at its lowest, 19.92 Percentage of taxable income, in 2020.
That places Iceland 47th out of 99 countries with data for 2025, putting it in the middle of the range.
Effective tax rates - Corporate tax statistics — Effective average in Iceland, year by year
| Year | Percentage of taxable income | Change |
|---|---|---|
| 2017 | 20.15 Percentage of taxable income | — |
| 2018 | 20.25 Percentage of taxable income | +0.5% |
| 2019 | 20.1 Percentage of taxable income | -0.7% |
| 2020 | 19.92 Percentage of taxable income | -0.9% |
| 2021 | 21.75 Percentage of taxable income | +9.2% |
| 2022 | 22.9 Percentage of taxable income | +5.3% |
| 2023 | 23.87 Percentage of taxable income | +4.2% |
| 2024 | 25.48 Percentage of taxable income | +6.7% |
| 2025 | 24.29 Percentage of taxable income | -4.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 20.17 Percentage of taxable income | 20.1 Percentage of taxable income | 20.25 Percentage of taxable income | 3 |
| 2020s | 23.04 Percentage of taxable income | 19.92 Percentage of taxable income | 25.48 Percentage of taxable income | 6 |
Countries ranked near Iceland
- 44 Greece 24.48 Percentage of taxable income compare
- 45 Germany 24.39 Percentage of taxable income compare
- 46 Honduras 24.35 Percentage of taxable income compare
- 48 Costa Rica 24.22 Percentage of taxable income compare
- 49 Curaçao 23.89 Percentage of taxable income compare
- 50 Luxembourg 23.79 Percentage of taxable income 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)
- Households and NPISHs Final consumption expenditure (current LCU) 9.4 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (current LCU) 63.74 current LCU per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (current LCU) 6.27 million current LCU per person (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 4.32 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.3194 constant 2015 US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 31,408 constant 2015 US$ per person (2025)
- Final consumption expenditure (current US$), annual growth rate 17.29 % change on previous year (2025)
- Final consumption expenditure (current US$), per unit of GDP 0.7569 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is effective tax rates - corporate tax statistics — effective average in Iceland?
- Effective tax rates - corporate tax statistics — effective average in Iceland was 24.29 Percentage of taxable income in 2025, according to Organisation for Economic Co-operation and Development.
- What is the highest effective tax rates - corporate tax statistics — effective average recorded in Iceland?
- The highest recorded value was 25.48 Percentage of taxable income in 2024.
- What is the lowest effective tax rates - corporate tax statistics — effective average recorded in Iceland?
- The lowest recorded value was 19.92 Percentage of taxable income in 2020.
- How does Iceland rank for effective tax rates - corporate tax statistics — effective average?
- Iceland ranks 47th out of 99 countries with data for 2025.
- Is effective tax rates - corporate tax statistics — effective average rising or falling in Iceland?
- Over the last ten years it is up 20.5%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Effective tax rates - Corporate tax statistics — Effective average tax rate. Statizoid updates them automatically from the source API.
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About this data
This table reports synthetic tax policy indicators calculated on the basis of a prospective, hypothetical investment project. Unlike backward-looking ETRs, they do not incorporate any information about firms' actual tax payments.The OECD methodology has been described in detail in the OECD Taxation Working Paper No. 38 (Hanappi, 2018). Further methodological information is available in the explanatory annex.