Iceland: Commercial tax rate

* indicates monthly or quarterly data series

Tax rate, percent of commercial profits

 Latest value 31.90
 Year 2019
 Measure percent
 Data availability 2005 - 2019
 Average 28.76
 Min - Max 24.40 - 31.90
 Source The World Bank (doing business survey)
For that indicator, we provide data for Iceland from 2005 to 2019. The average value for Iceland during that period was 28.76 percent with a minimum of 24.4 percent in 2009 and a maximum of 31.9 percent in 2019. The latest value from 2019 is 31.9 percent. For comparison, the world average in 2019 based on 184 countries is 40.53 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Iceland - Commercial tax rate - Recent values chart

Historical chart
Iceland - Commercial tax rate - historical chart - 2005-2019

Definition: Total tax rate measures the amount of taxes and mandatory contributions payable by businesses after accounting for allowable deductions and exemptions as a share of commercial profits. Taxes withheld (such as personal income tax) or collected and remitted to tax authorities (such as value added taxes, sales taxes or goods and service taxes) are excluded.

 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 26.18 2022 percent
 Government spending, in dollars 7.35 2022 billion U.S. dollars
 Fiscal balance, percent of GDP -4.30 2022 percent
 Government debt 35.90 2018 percent
 Government expenditure 274.34 Q3/2023 billion
 Long-term government bond yield 3.65 9/2021 percent
 Tax revenue 23.03 2022 percent
 Commercial tax rate 31.90 2019 percent
 Tax preparation time 140 2019 hours
 Number of taxes 21 2019 taxes
 Taxes on goods and services 35.33 2022 percent
 Taxes on international trade 0.49 2022 percent
 Income and profits taxes 32.86 2022 percent
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