The Personal Income Tax Rate in Iceland stands at 46.24 percent.

Personal Income Tax Rate in Iceland averaged 44.63 percent from 1995 until 2020, reaching an all time high of 46.90 percent in 1996 and a record low of 35.70 percent in 2007. This page provides - Iceland Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland Personal Income Tax Rate - values, historical data and charts - was last updated on October of 2020.

Personal Income Tax Rate in Iceland is expected to reach 46.30 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Personal Income Tax Rate is projected to trend around 46.30 percent in 2021 and 46.24 percent in 2022, according to our econometric models.

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Iceland Personal Income Tax Rate

Actual Previous Highest Lowest Dates Unit Frequency
46.24 46.24 46.90 35.70 1995 - 2020 percent Yearly

Iceland Taxes Last Previous Highest Lowest Unit
Corporate Tax Rate 20.00 20.00 33.00 15.00 percent [+]
Personal Income Tax Rate 46.24 46.24 46.90 35.70 percent [+]
Sales Tax Rate 24.00 24.00 25.50 24.00 percent [+]
Social Security Rate 10.84 10.84 16.65 10.84 percent [+]
Social Security Rate For Companies 6.35 6.60 8.65 5.23 percent [+]
Social Security Rate For Employees 4.00 4.00 8.00 4.00 percent [+]


Iceland Personal Income Tax Rate
In Iceland, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labour, pensions, interest and dividends. The benchmark we use refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of Iceland.