AU · OceaniaIS · Europe
Australia vs Iceland: tax rates compared
Australia has an income tax rate of 47%, 0.7pp above Iceland's 46.3%. The 200-country average is 28%: both sit above it.
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 | AU | IS | Difference |
|---|---|---|---|
| Income Tax | 47% | 46.3% | AU +0.7 pp |
| Corporate Tax | 30% | 20% | AU +10 pp |
| VAT | 10% | 24% | IS +14 pp |
| Capital Gains Tax | 45% | 22% | AU +23 pplargest gap |
| Crypto Tax | 45% | 22% | AU +23 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Australia | 47% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Iceland | 46.3% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | +0.7 pp | Australia higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Australia | 30% | 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 | +10 pp | Australia higher |
Australia has a corporate tax rate of 30%, 10pp above Iceland's 20%. The 201-country average is 22.6%: Australia sits above it, Iceland sits below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Australia | 10% | Source: PWC Worldwide Tax Summaries — Australia (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 | −14 pp | Iceland higher |
Iceland has a VAT rate of 24%, 14pp above Australia's 10%. The 181-country average is 15%: Australia sits below it, Iceland sits above it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Australia | 45% | Source: PWC Worldwide Tax Summaries — Australia (Individual, Taxes on personal income) · as of 2026-06-30 |
| Iceland | 22% | Source: Skatturinn (Iceland Revenue and Customs) — Key rates and amounts 2026 · as of 2026-01-01 |
| Difference | +23 pp | Australia higher |
Australia has a capital gains tax rate of 45%, 23pp above Iceland's 22%. The 175-country average is 10.3%: both sit above it.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Australia | 45% | Source: Australian Taxation Office — How to work out and report CGT on crypto · as of 2026-06-22 |
| Iceland | 22% | Source: Skatturinn (Icelandic Revenue and Customs) — Rafmynt (Cryptocurrency) · as of 2026-07-19 |
| Difference | +23 pp | Australia higher |
Australia has a crypto tax rate of 45%, 23pp above Iceland's 22%. The 88-country average is 13%: both sit above it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Australia | 0% | Source: PWC Worldwide Tax Summaries — Australia (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 |
Australia and Iceland share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.