Paying taxes: Profit tax in Iceland
Iceland: Paying taxes: Profit tax was 8.5% in 2019. ▲ Rising
Paying taxes: Profit tax in Iceland, 2005–2019
Source: World Bank. Measured in % of profits.
Analysis
The most recent figure for paying taxes: profit tax in Iceland is 8.5%, measured in 2019.
Compared with earlier readings it is down 3.4% on the previous year and up 16.4% over ten years.
Over the whole period, paying taxes: profit tax in Iceland peaked at 9.0% in 2017 and was at its lowest, 6.9%, in 2010.
Iceland ranks 149th of 190 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 15 years of available data.
Paying taxes: Profit tax in Iceland, year by year
| Year | % of profits | Change |
|---|---|---|
| 2005 | 8.4% | — |
| 2006 | 8.5% | +1.2% |
| 2007 | 8.7% | +2.4% |
| 2008 | 8.7% | +0.0% |
| 2009 | 7.3% | -16.1% |
| 2010 | 6.9% | -5.5% |
| 2011 | 7.8% | +13.0% |
| 2012 | 8.5% | +9.0% |
| 2013 | 8.9% | +4.7% |
| 2014 | 8.9% | +0.0% |
| 2015 | 8.9% | +0.0% |
| 2016 | 8.9% | +0.0% |
| 2017 | 9.0% | +1.1% |
| 2018 | 8.8% | -2.2% |
| 2019 | 8.5% | -3.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 8.3% | 7.3% | 8.7% | 5 |
| 2010s | 8.5% | 6.9% | 9.0% | 10 |
Countries ranked near Iceland
- 147 Slovakia 9.1% compare
- 148 Côte d'Ivoire 8.8% compare
- 150 Bosnia and Herzegovina 8.4% compare
- 150 Republic of Moldova 8.4% compare
- 152 Cyprus 8.3% compare
- 152 Montenegro 8.3% compare
More reference data data for Iceland
- Emission Totals - Indirect emissions (N2O) - Manure applied to Soils 0.0288 (2050)
- Emission Totals - Indirect emissions (N2O) - Manure left on Pasture 0.0708 (2050)
- Emission Totals - Indirect emissions (N2O) - IPCC Agriculture 0.1854 (2050)
- Emission Totals - Indirect emissions (N2O) - Crop Residues 0.0001 (2050)
- Emission Totals - Indirect emissions (N2O) - Agricultural Soils 0.1854 (2050)
- Emission Totals - Emissions (N2O) - Manure applied to Soils 0.0964 (2050)
- Emission Totals - Emissions (N2O) - Manure Management 0.062 (2050)
- Emission Totals - Emissions (N2O) - Manure left on Pasture 0.2576 (2050)
- Emission Totals - Emissions (N2O) - IPCC Agriculture 0.7664 (2050)
- Emission Totals - Emissions (N2O) - Crop Residues 0.0005 (2050)
Frequently asked questions
- What is paying taxes: profit tax in Iceland?
- Paying taxes: profit tax in Iceland was 8.5% in 2019, according to the World Bank.
- What is the highest paying taxes: profit tax recorded in Iceland?
- The highest recorded value was 9.0% in 2017.
- What is the lowest paying taxes: profit tax recorded in Iceland?
- The lowest recorded value was 6.9% in 2010.
- How does Iceland rank for paying taxes: profit tax?
- Iceland ranks 149th out of 190 countries with data for 2019.
- Is paying taxes: profit tax rising or falling in Iceland?
- Over the last ten years it is up 16.4%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from the World Bank, published as part of Paying taxes: Profit tax (% of profits). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 15 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
The profit tax measures the amount of income taxes borne by the business in the second year of operation, expressed as a share of commercial pro?t.