IS · EuropeJE · Europe
Iceland vs Jersey: tax rates compared
Iceland's income tax rate is 26.3pp higher than Jersey's (46.3% vs 20%). The 200-country average is 28%: Iceland sits above it, Jersey sits below it. Iceland's figure is dated 2025-01-01 and Jersey's 2026-02-02, 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 | JE | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 20% | IS +26.3 pplargest gap |
| Corporate Tax | 20% | 0% | IS +20 pp |
| VAT | 24% | 5% | IS +19 pp |
| Capital Gains Tax | 22% | 0% | IS +22 pp |
| Crypto Tax | 22% | 0% | IS +22 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 |
| Jersey | 20% | Source: PWC Worldwide Tax Summaries — Jersey, Channel Islands (Individual, Taxes on personal income) · as of 2026-02-02 |
| Difference | +26.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Jersey | 0% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | +20 pp | Iceland higher |
Iceland's corporate tax rate is 20pp higher than Jersey's (20% vs 0%). The 201-country average is 22.6%: both sit below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Jersey | 5% | Source: PWC Worldwide Tax Summaries — Jersey (Corporate, Other taxes) · as of 2026-02-02 |
| Difference | +19 pp | Iceland higher |
Iceland's VAT rate is 19pp higher than Jersey's (24% vs 5%). The 181-country average is 15%: Iceland sits above it, Jersey sits below 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 |
| Jersey | 0% | Source: PWC Worldwide Tax Summaries — Jersey (Individual, Income determination) · as of 2026-02-02 |
| Difference | +22 pp | Iceland higher |
Iceland's capital gains tax rate is 22pp higher than Jersey's (22% vs 0%). The 175-country average is 10.3%: Iceland sits above it, Jersey sits below it.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 22% | Source: Skatturinn (Icelandic Revenue and Customs) — Rafmynt (Cryptocurrency) · as of 2026-07-19 |
| Jersey | 0% | Source: Government of Jersey — Cryptocurrency tax treatment · as of 2026-07-19 |
| Difference | +22 pp | Iceland higher |
Iceland's crypto tax rate is 22pp higher than Jersey's (22% vs 0%). The 88-country average is 13%: Iceland sits above it, Jersey sits below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 0% | Source: PWC Worldwide Tax Summaries — Iceland (Individual, Other taxes) · as of 2026-06-22 |
| Jersey | 0% | Source: PWC Worldwide Tax Summaries — Jersey (Individual, Other taxes) · as of 2026-02-02 |
| Difference | 0 pp | displayed rates match |
Iceland's wealth tax rate is identical to Jersey's — both sit at 0%. The 193-country average is 0.1%: both sit below it.