AM · AsiaIS · Europe
Armenia vs Iceland: tax rates compared
Between the two, Iceland's income tax rate (46.3%) tops Armenia's (20%) by 26.3pp. The 200-country average is 28%: Armenia sits below it, Iceland sits above it. Armenia's figure is dated 2023-01-01 and Iceland's 2025-01-01, so the two rates come from different data vintages.
Verified data covers six of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | AM | IS | Difference |
|---|---|---|---|
| Income Tax | 20% | 46.3% | IS +26.3 pplargest gap |
| Corporate Tax | 18% | 20% | IS +2 pp |
| VAT | 20% | 24% | IS +4 pp |
| Capital Gains Tax | 0% | 22% | IS +22 pp |
| Crypto Tax | 0% | 22% | IS +22 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Armenia | 20% | Source: EY Worldwide Personal Tax and Immigration Guide (March 2026) — Armenia · as of 2023-01-01 |
| Iceland | 46.3% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −26.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Armenia | 18% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −2 pp | Iceland higher |
Between the two, Iceland's corporate tax rate (20%) tops Armenia's (18%) by 2pp. The 201-country average is 22.6%: both sit below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Armenia | 20% | Source: PWC Worldwide Tax Summaries — Armenia (Corporate, Other taxes) · as of 2026-06-30 |
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Difference | −4 pp | Iceland higher |
Between the two, Iceland's VAT rate (24%) tops Armenia's (20%) by 4pp. The 181-country average is 15%: both sit above it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Armenia | 0% | Source: EY Worldwide Personal Tax and Immigration Guide 2026 — Armenia · as of 2025-10-01 |
| Iceland | 22% | Source: Skatturinn (Iceland Revenue and Customs) — Key rates and amounts 2026 · as of 2026-01-01 |
| Difference | −22 pp | Iceland higher |
Between the two, Iceland's capital gains tax rate (22%) tops Armenia's (0%) by 22pp. The 175-country average is 10.3%: Armenia sits below it, Iceland sits above it. Armenia's figure is dated 2025-10-01 and Iceland's 2026-01-01, so the two rates come from different data vintages.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Armenia | 0% | Source: IMF Fiscal Affairs Department — Republic of Armenia: Tax Compliance and Crypto Assets (Technical Assistance Report, July 2024) · as of 2024-07-01 |
| Iceland | 22% | Source: Skatturinn (Icelandic Revenue and Customs) — Rafmynt (Cryptocurrency) · as of 2026-07-19 |
| Difference | −22 pp | Iceland higher |
Between the two, Iceland's crypto tax rate (22%) tops Armenia's (0%) by 22pp. The 88-country average is 13%: Armenia sits below it, Iceland sits above it. Armenia's figure is dated 2024-07-01 and Iceland's 2026-07-19, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Armenia | 0% | Source: PWC Worldwide Tax Summaries — Armenia (Net wealth/worth tax rates) · as of 2026-06-30 |
| Iceland | 0% | Source: PWC Worldwide Tax Summaries — Iceland (Individual, Other taxes) · as of 2026-06-22 |
| Difference | 0 pp | displayed rates match |
There's no gap here — Armenia and Iceland both post a wealth tax rate of 0%. The 193-country average is 0.1%: both sit below it.