IS · Europe ↔ LT · Europe
Iceland vs Lithuania: tax rates compared
Iceland has an income tax rate of 46.3%, 14.3pp above Lithuania's 32%. The 37-country average is 43.2%: Iceland sits above it, Lithuania sits below it.
Verified data covers four of the six tracked tax types for both countries; every rate below is cited to its source and dated.
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 higherlargest gap on this page |
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 37-country average is 19.5%: both sit above it.
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.
Not covered for both countries yet: Capital Gains Tax, Crypto Tax.