CO · AmericasIS · Europe
Colombia vs Iceland: tax rates compared
Iceland has an income tax rate of 46.3%, 7.3pp above Colombia's 39%. 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 | CO | IS | Difference |
|---|---|---|---|
| Income Tax | 39% | 46.3% | IS +7.3 pp |
| Corporate Tax | 35% | 20% | CO +15 pplargest gap |
| VAT | 19% | 24% | IS +5 pp |
| Capital Gains Tax | 15% | 22% | IS +7 pp |
| Crypto Tax | 15% | 22% | IS +7 pp |
| Wealth Tax | 1.5% | 0% | CO +1.5 pp |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Colombia | 39% | 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 | −7.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Colombia | 35% | 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 | +15 pp | Colombia higher |
Colombia has a corporate tax rate of 35%, 15pp above Iceland's 20%. The 201-country average is 22.6%: Colombia sits above it, Iceland sits below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Colombia | 19% | Source: PWC Worldwide Tax Summaries — Colombia (Corporate, Other taxes) · as of 2026-01-23 |
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Difference | −5 pp | Iceland higher |
Iceland has a VAT rate of 24%, 5pp above Colombia's 19%. The 181-country average is 15%: both sit above it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Colombia | 15% | Source: PWC Worldwide Tax Summaries — Colombia (Individual, Other taxes) · as of 2026-01-23 |
| Iceland | 22% | Source: Skatturinn (Iceland Revenue and Customs) — Key rates and amounts 2026 · as of 2026-01-01 |
| Difference | −7 pp | Iceland higher |
Iceland has a capital gains tax rate of 22%, 7pp above Colombia's 15%. The 175-country average is 10.3%: both sit above it.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Colombia | 15% | Source: DIAN (Dirección de Impuestos y Aduanas Nacionales) — Concepto Unificado sobre Criptoactivos (100202208-1621) · as of 2023-10-17 |
| Iceland | 22% | Source: Skatturinn (Icelandic Revenue and Customs) — Rafmynt (Cryptocurrency) · as of 2026-07-19 |
| Difference | −7 pp | Iceland higher |
Iceland has a crypto tax rate of 22%, 7pp above Colombia's 15%. The 88-country average is 13%: both sit above it. Colombia's figure is dated 2023-10-17 and Iceland's 2026-07-19, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Colombia | 1.5% | Source: PWC Worldwide Tax Summaries — Colombia (Individual, Other taxes) · as of 2026-01-23 |
| Iceland | 0% | Source: PWC Worldwide Tax Summaries — Iceland (Individual, Other taxes) · as of 2026-06-22 |
| Difference | +1.5 pp | Colombia higher |
Colombia has a wealth tax rate of 1.5%, 1.5pp above Iceland's 0%. The 193-country average is 0.1%: Colombia sits above it, Iceland sits below it.