GI · EuropeIS · Europe
Gibraltar vs Iceland: tax rates compared
Iceland has an income tax rate of 46.3%, 7.3pp above Gibraltar's 39%. The 200-country average is 28%: both sit above it. Gibraltar's figure is dated 2026-03-10 and Iceland's 2025-01-01, so the two rates come from different data vintages.
Verified data covers four of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | GI | IS | Difference |
|---|---|---|---|
| Income Tax | 39% | 46.3% | IS +7.3 pp |
| Corporate Tax | 15% | 20% | IS +5 pp |
| Capital Gains Tax | 0% | 22% | IS +22 pplargest gap |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Gibraltar | 39% | Source: PwC Worldwide Tax Summaries — Gibraltar, Individual - Taxes on personal income · as of 2026-03-10 |
| 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 |
|---|---|---|
| Gibraltar | 15% | 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 | −5 pp | Iceland higher |
Iceland has a corporate tax rate of 20%, 5pp above Gibraltar's 15%. The 201-country average is 22.6%: both sit below it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Gibraltar | 0% | Source: PwC Worldwide Tax Summaries — Gibraltar, Individual - Income determination · as of 2026-03-10 |
| Iceland | 22% | Source: Skatturinn (Iceland Revenue and Customs) — Key rates and amounts 2026 · as of 2026-01-01 |
| Difference | −22 pp | Iceland higher |
Iceland has a capital gains tax rate of 22%, 22pp above Gibraltar's 0%. The 175-country average is 10.3%: Gibraltar sits below it, Iceland sits above it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Gibraltar | 0% | Source: PWC Worldwide Tax Summaries — Gibraltar (Individual, Other taxes) · as of 2026-03-10 |
| Iceland | 0% | Source: PWC Worldwide Tax Summaries — Iceland (Individual, Other taxes) · as of 2026-06-22 |
| Difference | 0 pp | displayed rates match |
Gibraltar and Iceland share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: VAT, Crypto Tax.