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Iceland vs India: tax rates compared
Iceland's income tax rate is 16.3pp higher than India's (46.3% vs 30%). The 200-country average is 28%: both sit above it. Iceland's figure is dated 2025-01-01 and India's 2026-05-12, so the two rates come from different data vintages.
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 | IS | IN | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 30% | IS +16.3 pplargest gap |
| Corporate Tax | 20% | 30% | IN +10 pp |
| VAT | 24% | 18% | IS +6 pp |
| Capital Gains Tax | 22% | 12.5% | IS +9.5 pp |
| Crypto Tax | 22% | 30% | IN +8 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 46.3% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| India | 30% | Source: PWC Worldwide Tax Summaries — India (Individual, Taxes on personal income) · as of 2026-05-12 |
| Difference | +16.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| India | 30% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −10 pp | India higher |
India's corporate tax rate is 10pp higher than Iceland's (30% vs 20%). The 201-country average is 22.6%: Iceland sits below it, India sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| India | 18% | Source: PWC Worldwide Tax Summaries — India (Corporate, Other taxes) · as of 2026-05-11 |
| Difference | +6 pp | Iceland higher |
Iceland's VAT rate is 6pp higher than India's (24% vs 18%). The 181-country average is 15%: both sit above it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 22% | Source: Skatturinn (Iceland Revenue and Customs) — Key rates and amounts 2026 · as of 2026-01-01 |
| India | 12.5% | Source: PWC Worldwide Tax Summaries — India (Individual, Other taxes) · as of 2024-07-23 |
| Difference | +9.5 pp | Iceland higher |
Iceland's capital gains tax rate is 9.5pp higher than India's (22% vs 12.5%). The 175-country average is 10.3%: both sit above it. Iceland's figure is dated 2026-01-01 and India's 2024-07-23, so the two rates come from different data vintages.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 22% | Source: Skatturinn (Icelandic Revenue and Customs) — Rafmynt (Cryptocurrency) · as of 2026-07-19 |
| India | 30% | Source: Ministry of Finance, Government of India — Memorandum Explaining the Provisions in the Finance Bill 2022 · as of 2023-04-01 |
| Difference | −8 pp | India higher |
India's crypto tax rate is 8pp higher than Iceland's (30% vs 22%). The 88-country average is 13%: both sit above it. Iceland's figure is dated 2026-07-19 and India's 2023-04-01, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 0% | Source: PWC Worldwide Tax Summaries — Iceland (Individual, Other taxes) · as of 2026-06-22 |
| India | 0% | Source: PWC Worldwide Tax Summaries — India (Individual, Other taxes) · as of 2026-05-12 |
| Difference | 0 pp | displayed rates match |
Iceland's wealth tax rate is identical to India's — both sit at 0%. The 193-country average is 0.1%: both sit below it.