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Arctic Region > Iceland > Taxation
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| ICELANDIC TAXATION STATS: |
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SOURCES: Corporate Income tax as a percentage of total tax collected by the country. Data is for 2002.; Goods and service tax as a percentage of total tax collected by the country. Data is for 2002.; Personal Income tax as a percentage of total tax collected by the country. Data is for 2002.; Tax on employer's contribution of social security as a percentage of total tax collected by the country. Data is for 2002.; Tax on employee's contribution of social security as a percentage of total tax collected by the country. Data is for 2002.; Customs and other import duties are all levies collected on goods that are entering the country or services delivered by nonresidents to residents. They include levies imposed for revenue or protection purposes and determined on a specific or ad valorem basis as long as they are restricted to imported goods or services.; Net taxes on products (net indirect taxes) are the sum of product taxes less subsidies. Product taxes are those taxes payable by producers that relate to the production, sale, purchase or use of the goods and services. Subsidies are grants on the current account made by general government to private enterprises and unincorporated public enterprises. The grants may take the form of payments to ensure a guaranteed price or to enable maintenance of prices of goods and services below costs of production, and other forms of assistance to producers. Data are in current local currency.; Net taxes on products (net indirect taxes) are the sum of product taxes less subsidies. Product taxes are those taxes payable by producers that relate to the production, sale, purchase or use of the goods and services. Subsidies are grants on the current account made by general government to private enterprises and unincorporated public enterprises. The grants may take the form of payments to ensure a guaranteed price or to enable maintenance of prices of goods and services below costs of production, and other forms of assistance to producers. Data are in current U.S. dollars.; Other taxes include employer payroll or labor taxes, taxes on property, and taxes not allocable to other categories, such as penalties for late payment or nonpayment of taxes.; Social contributions include social security contributions by employees, employers, and self-employed individuals, and other contributions whose source cannot be determined. They also include actual or imputed contributions to social insurance schemes operated by governments.; Tax payments by businesses are the total number of taxes paid by businesses, including electronic filing. The tax is counted as paid once a year even if payments are more frequent.; Tax revenue refers to compulsory transfers to the central government for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue.; The percentage of gross earnings given up in tax, including any social security contributions. Calculated for a single worker without children, earning 100 % of the average wage. Data for 2001, and only for selected OECD countries.; The percentage of gross earnings given up in tax, including any social security contributions. Calculated for a married couple with two children, earning 100% of the average wage. Data for 2001. Selected OECD countries only.; Value Added Tax 2002. Whether there is a lower rate for dwellings and if so, what rate.; Value Added Tax rate
ALTERNATIVE NAMES:
Iceland, Republic of Iceland, Lydhveldidh Island, Island
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