The Sales Tax Rate in Iceland stands at 24 percent. source: Internal Revenue Directorate

Sales Tax Rate in Iceland averaged 24.68 percent from 2010 until 2020, reaching an all time high of 25.50 percent in 2011 and a record low of 24 percent in 2015. This page provides - Iceland Sales Tax Rate | VAT - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland Sales Tax Rate - VAT - values, historical data and charts - was last updated on November of 2020.

Sales Tax Rate in Iceland is expected to reach 24.00 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Sales Tax Rate - VAT is projected to trend around 24.00 percent in 2021, according to our econometric models.

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Iceland Sales Tax Rate - VAT

Actual Previous Highest Lowest Dates Unit Frequency
24.00 24.00 25.50 24.00 2010 - 2020 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 Sales Tax Rate - VAT
In Iceland, the sales tax rate is a tax charged to consumers based on the purchase price of certain goods and services. The benchmark we use for the sales tax rate refers to the highest rate. Revenues from the Sales Tax Rate are an important source of income for the government of Iceland.