BB · AmericasIS · Europe
Barbados vs Iceland: tax rates compared
Iceland's income tax rate is 17.8pp higher than Barbados's (46.3% vs 28.5%). The 200-country average is 28%: both sit above it. Barbados's figure is dated 2026-01-11 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 | BB | IS | Difference |
|---|---|---|---|
| Income Tax | 28.5% | 46.3% | IS +17.8 pp |
| Corporate Tax | 9% | 20% | IS +11 pp |
| VAT | 17.5% | 24% | IS +6.5 pp |
| Capital Gains Tax | 0% | 22% | IS +22 pplargest gap |
| Crypto Tax | 0% | 22% | IS +22 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 28.5% | Source: PWC Worldwide Tax Summaries — Barbados (Individual, Taxes on personal income) · as of 2026-01-11 |
| Iceland | 46.3% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −17.8 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 9% | 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 | −11 pp | Iceland higher |
Iceland's corporate tax rate is 11pp higher than Barbados's (20% vs 9%). The 201-country average is 22.6%: both sit below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Barbados | 17.5% | Source: PWC Worldwide Tax Summaries — Barbados (Corporate, Other taxes) · as of 2026-01-11 |
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Difference | −6.5 pp | Iceland higher |
Iceland's VAT rate is 6.5pp higher than Barbados's (24% vs 17.5%). The 181-country average is 15%: both sit above it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 0% | Source: PWC Worldwide Tax Summaries — Barbados (Individual, Income determination) · as of 2026-01-11 |
| Iceland | 22% | Source: Skatturinn (Iceland Revenue and Customs) — Key rates and amounts 2026 · as of 2026-01-01 |
| Difference | −22 pp | Iceland higher |
Iceland's capital gains tax rate is 22pp higher than Barbados's (22% vs 0%). The 175-country average is 10.3%: Barbados sits below it, Iceland sits above it.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 0% | Source: PwC Worldwide Tax Summaries — Barbados (Individual, Income determination) · as of 2026-01-11 |
| Iceland | 22% | Source: Skatturinn (Icelandic Revenue and Customs) — Rafmynt (Cryptocurrency) · as of 2026-07-19 |
| Difference | −22 pp | Iceland higher |
Iceland's crypto tax rate is 22pp higher than Barbados's (22% vs 0%). The 88-country average is 13%: Barbados sits below it, Iceland sits above it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 0% | Source: PWC Worldwide Tax Summaries — Barbados (Net wealth/worth tax rates) · as of 2026-01-11 |
| Iceland | 0% | Source: PWC Worldwide Tax Summaries — Iceland (Individual, Other taxes) · as of 2026-06-22 |
| Difference | 0 pp | displayed rates match |
Barbados's wealth tax rate is identical to Iceland's — both sit at 0%. The 193-country average is 0.1%: both sit below it.