FACTOID # 3: People in Germany, Belgium, Hungary and Sweden have to pay almost half their salaries in tax.
 
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Arctic Region > Iceland > Taxation

Components of taxation > Corporate income tax u3% [27th of 28]
Components of taxation > Goods and service tax 40.3% [4th of 30]
Components of taxation > Personal income tax 38.6% [3rd of 30]
Components of taxation > Social security > Contribution by employer 7.9% [23rd of 27]
Components of taxation > Social security > Employees contribution 0.3% [28th of 30]
Net taxes on products > current LCU 151736000000 Time series
Net taxes on products > current US$ 2,161,737,000 $ Time series [58th of 159]
Social contributions > % of revenue 9.23 % Time series [50th of 78]
Social contributions > current LCU 23904350000 Time series
Taxes on goods and services > % value added of industry and services 18.23 % Time series [5th of 89]
Taxes on income, profits and capital gains > % of revenue 26.81 % Time series [29th of 98]
Taxes on income, profits and capital gains > % of total taxes 35.24 % Time series [42nd of 98]
Total tax wedge > Single worker 25.7% [25th of 29]
Total tax wedge > Single-income family 2.8% [29th of 29]
Value Added Tax > Lower rate for dwellings 9.8 [3rd of 25]
Value Added Tax > Professional services 24.5 [4th of 25]
Value Added Tax > Standard rate 24.5% [3rd of 25]

... View all Taxation stats

SOURCES: OECD Revenue Statistics; World Development Indicators database; OECD; Parliamentary Assembly of the Council of Europe

ALTERNATIVE NAMES: Iceland, Republic of Iceland, Lydhveldidh Island, Island

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