IS · EuropeLT · Europe
Iceland vs Lithuania: tax rates compared
Iceland has an income tax rate of 46.3%, 14.3pp above Lithuania's 32%. The 200-country average is 28%: both sit above it.
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 | LT | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 32% | IS +14.3 pplargest gap |
| Corporate Tax | 20% | 16% | IS +4 pp |
| VAT | 24% | 21% | IS +3 pp |
| Capital Gains Tax | 22% | 20% | IS +2 pp |
| Crypto Tax | 22% | 20% | IS +2 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 |
| Lithuania | 32% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | +14.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Lithuania | 16% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | +4 pp | Iceland higher |
Iceland has a corporate tax rate of 20%, 4pp above Lithuania's 16%. 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 |
| Lithuania | 21% | Source: PWC Worldwide Tax Summaries — Lithuania (Corporate, Other taxes) · as of 2026-03-10 |
| Difference | +3 pp | Iceland higher |
Iceland has a VAT rate of 24%, 3pp above Lithuania's 21%. 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 |
| Lithuania | 20% | Source: PWC Worldwide Tax Summaries — Lithuania (Individual, Income determination) · as of 2026-03-10 |
| Difference | +2 pp | Iceland higher |
Iceland has a capital gains tax rate of 22%, 2pp above Lithuania's 20%. The 175-country average is 10.3%: both sit above it.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 22% | Source: Skatturinn (Icelandic Revenue and Customs) — Rafmynt (Cryptocurrency) · as of 2026-07-19 |
| Lithuania | 20% | Source: Valstybinė mokesčių inspekcija (VMI) — Kriptovaliutų apskaita ir mokesčiai · as of 2025-09-30 |
| Difference | +2 pp | Iceland higher |
Iceland has a crypto tax rate of 22%, 2pp above Lithuania's 20%. The 88-country average is 13%: both sit above it. Iceland's figure is dated 2026-07-19 and Lithuania's 2025-09-30, 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 |
| Lithuania | 0% | Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2026-03-10 |
| Difference | 0 pp | displayed rates match |
Iceland and Lithuania share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.