CO · Americas ↔ IS · Europe
Colombia vs Iceland: tax rates compared
Iceland has an income tax rate of 46.3%, 7.3pp above Colombia's 39%. The 37-country average is 43.2%: Colombia sits below it, Iceland sits above it.
Verified data covers four of the six tracked tax types for both countries; every rate below is cited to its source and dated.
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 higherlargest gap on this page |
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 37-country average is 19.5%: Colombia sits below it, Iceland sits above it.
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.
Not covered for both countries yet: Capital Gains Tax, Crypto Tax.