BZ · AmericasIS · Europe
Belize vs Iceland: tax rates compared
Between the two, Iceland's income tax rate (46.3%) tops Belize's (25%) by 21.3pp. The 200-country average is 28%: Belize sits below it, Iceland sits above it.
Verified data covers five of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | BZ | IS | Difference |
|---|---|---|---|
| Income Tax | 25% | 46.3% | IS +21.3 pp |
| Corporate Tax | 0% | 20% | IS +20 pp |
| VAT | 12.5% | 24% | IS +11.5 pp |
| Capital Gains Tax | 0% | 22% | IS +22 pplargest gap |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Belize | 25% | Source: Belize Income and Business Tax (Amendment) Act, 2024 (No. 40 of 2024) · as of 2025-01-01 |
| Iceland | 46.3% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −21.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Belize | 0% | 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 | −20 pp | Iceland higher |
Between the two, Iceland's corporate tax rate (20%) tops Belize's (0%) by 20pp. The 201-country average is 22.6%: both sit below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Belize | 12.5% | Source: Belize Tax Service — General Sales Tax Act (Chapter 63, Revised Edition 2011) · as of 2011-12-31 |
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Difference | −11.5 pp | Iceland higher |
Between the two, Iceland's VAT rate (24%) tops Belize's (12.5%) by 11.5pp. The 181-country average is 15%: Belize sits below it, Iceland sits above it. Belize's figure is dated 2011-12-31 and Iceland's 2026-06-22, so the two rates come from different data vintages.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Belize | 0% | Source: Belize Income and Business Tax Act (Chapter 55, Revised Edition 2020) · as of 2020-12-31 |
| 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 Belize's (0%) by 22pp. The 175-country average is 10.3%: Belize sits below it, Iceland sits above it. Belize's figure is dated 2020-12-31 and Iceland's 2026-01-01, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Belize | 0% | Source: Belize Income and Business Tax Act, Chapter 55 (Government of Belize, Attorney General's Ministry) · as of 2026-07-18 |
| 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 — Belize and Iceland both post a wealth tax rate of 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.