IS · EuropeJM · Americas
Iceland vs Jamaica: tax rates compared
Iceland's income tax rate is 16.3pp higher than Jamaica's (46.3% vs 30%). The 200-country average is 28%: both sit above it.
Verified data covers five of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | IS | JM | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 30% | IS +16.3 pp |
| Corporate Tax | 20% | 25% | JM +5 pp |
| VAT | 24% | 15% | IS +9 pp |
| Capital Gains Tax | 22% | 0% | IS +22 pplargest gap |
| 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 |
| Jamaica | 30% | Source: PWC Worldwide Tax Summaries — Jamaica (Individual, Taxes on personal income) · as of 2025-12-31 |
| 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 |
| Jamaica | 25% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −5 pp | Jamaica higher |
Jamaica's corporate tax rate is 5pp higher than Iceland's (25% vs 20%). The 201-country average is 22.6%: Iceland sits below it, Jamaica sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Jamaica | 15% | Source: PWC Worldwide Tax Summaries — Jamaica (Corporate, Other taxes) · as of 2025-12-31 |
| Difference | +9 pp | Iceland higher |
Iceland's VAT rate is 9pp higher than Jamaica's (24% vs 15%). The 181-country average is 15%: Iceland sits above it, Jamaica matches the world average. Iceland's figure is dated 2026-06-22 and Jamaica's 2025-12-31, so the two rates come from different data vintages.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 22% | Source: Skatturinn (Iceland Revenue and Customs) — Key rates and amounts 2026 · as of 2026-01-01 |
| Jamaica | 0% | Source: PWC Worldwide Tax Summaries — Jamaica (Individual, Income determination) · as of 2025-12-31 |
| Difference | +22 pp | Iceland higher |
Iceland's capital gains tax rate is 22pp higher than Jamaica's (22% vs 0%). The 175-country average is 10.3%: Iceland sits above it, Jamaica sits below it. Iceland's figure is dated 2026-01-01 and Jamaica's 2025-12-31, 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 |
| Jamaica | 0% | Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2025-12-31 |
| Difference | 0 pp | displayed rates match |
Iceland's wealth tax rate is identical to Jamaica's — both sit at 0%. The 193-country average is 0.1%: both sit below it. Iceland's figure is dated 2026-06-22 and Jamaica's 2025-12-31, so the two rates come from different data vintages.
Not covered for both countries yet: Crypto Tax.