GN · AfricaIS · Europe
Guinea vs Iceland: tax rates compared
Iceland has an income tax rate of 46.3%, 26.3pp above Guinea's 20%. The 200-country average is 28%: Guinea sits below it, Iceland sits above it. Guinea's figure is dated 2022-01-01 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 | GN | IS | Difference |
|---|---|---|---|
| Income Tax | 20% | 46.3% | IS +26.3 pplargest gap |
| Corporate Tax | 25% | 20% | GN +5 pp |
| VAT | 18% | 24% | IS +6 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Guinea | 20% | Source: Guinea Code Général des Impôts (Loi ordinaire L/2021/032/AN), Direction Générale des Impôts, Articles 63-64 · as of 2022-01-01 |
| Iceland | 46.3% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −26.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Guinea | 25% | 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 | Guinea higher |
Guinea has a corporate tax rate of 25%, 5pp above Iceland's 20%. The 201-country average is 22.6%: Guinea sits above it, Iceland sits below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Guinea | 18% | Source: PwC — VAT and Indirect Taxes in Africa 2023, Guinea · as of 2023-01-28 |
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Difference | −6 pp | Iceland higher |
Iceland has a VAT rate of 24%, 6pp above Guinea's 18%. The 181-country average is 15%: both sit above it. Guinea's figure is dated 2023-01-28 and Iceland's 2026-06-22, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Guinea | 0% | Source: Direction Générale des Impôts (DGI) Guinée — official site · 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 |
Guinea 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: Capital Gains Tax, Crypto Tax.