The Social Security Rate in Iceland stands at 10.84 percent.

Social Security Rate in Iceland averaged 13.39 percent from 2000 until 2018, reaching an all time high of 16.65 percent in 2010 and a record low of 10.84 percent in 2017. This page provides - Iceland Social Security Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland Social Security Rate - values, historical data and charts - was last updated on October of 2020.

Social Security Rate in Iceland is expected to reach 10.84 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Social Security Rate is projected to trend around 10.84 percent in 2021, according to our econometric models.

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Iceland Social Security Rate

Actual Previous Highest Lowest Dates Unit Frequency
10.84 10.84 16.65 10.84 2000 - 2018 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 Social Security Rate
In Iceland, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Iceland because they help to pay for many social programs including welfare, health care and many other benefits.