IS · EuropeNG · Africa
Iceland vs Nigeria: tax rates compared
Iceland's income tax rate is 21.3pp higher than Nigeria's (46.3% vs 25%). The 200-country average is 28%: Iceland sits above it, Nigeria sits below it. Iceland's figure is dated 2025-01-01 and Nigeria's 2026-05-29, 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 | NG | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 25% | IS +21.3 pplargest gap |
| Corporate Tax | 20% | 30% | NG +10 pp |
| VAT | 24% | 7.5% | IS +16.5 pp |
| Capital Gains Tax | 22% | 25% | NG +3 pp |
| Crypto Tax | 22% | 25% | NG +3 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 |
| Nigeria | 25% | Source: PWC Worldwide Tax Summaries — Nigeria (Individual, Taxes on personal income) · as of 2026-05-29 |
| Difference | +21.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Nigeria | 30% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −10 pp | Nigeria higher |
Nigeria's corporate tax rate is 10pp higher than Iceland's (30% vs 20%). The 201-country average is 22.6%: Iceland sits below it, Nigeria sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Nigeria | 7.5% | Source: PWC Worldwide Tax Summaries — Nigeria (Corporate, Other taxes) · as of 2026-05-29 |
| Difference | +16.5 pp | Iceland higher |
Iceland's VAT rate is 16.5pp higher than Nigeria's (24% vs 7.5%). The 181-country average is 15%: Iceland sits above it, Nigeria 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 |
| Nigeria | 25% | Source: PwC Worldwide Tax Summaries — Nigeria (Individual, Income determination) · as of 2026-05-29 |
| Difference | −3 pp | Nigeria higher |
Nigeria's capital gains tax rate is 3pp higher than Iceland's (25% vs 22%). 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 |
| Nigeria | 25% | Source: EY Worldwide Personal Tax and Immigration Guide 2026 — Nigeria · as of 2025-10-01 |
| Difference | −3 pp | Nigeria higher |
Nigeria's crypto tax rate is 3pp higher than Iceland's (25% vs 22%). The 88-country average is 13%: both sit above it. Iceland's figure is dated 2026-07-19 and Nigeria's 2025-10-01, 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 |
| Nigeria | 0% | Source: PWC Worldwide Tax Summaries — Nigeria (Individual, Other taxes) · as of 2026-05-29 |
| Difference | 0 pp | displayed rates match |
Iceland's wealth tax rate is identical to Nigeria's — both sit at 0%. The 193-country average is 0.1%: both sit below it.