IS · EuropePE · Americas
Iceland vs Peru: tax rates compared
Between the two, Iceland's income tax rate (46.3%) tops Peru's (30%) by 16.3pp. The 200-country average is 28%: both sit above it. Iceland's figure is dated 2025-01-01 and Peru's 2026-07-13, so the two rates come from different data vintages.
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 | PE | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 30% | IS +16.3 pp |
| Corporate Tax | 20% | 29.5% | PE +9.5 pp |
| VAT | 24% | 18% | IS +6 pp |
| Capital Gains Tax | 22% | 5% | IS +17 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 |
| Peru | 30% | Source: PWC Worldwide Tax Summaries — Peru (Individual, Taxes on personal income) · as of 2026-07-13 |
| 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 |
| Peru | 29.5% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −9.5 pp | Peru higher |
Between the two, Peru's corporate tax rate (29.5%) tops Iceland's (20%) by 9.5pp. The 201-country average is 22.6%: Iceland sits below it, Peru sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Peru | 18% | Source: PWC Worldwide Tax Summaries — Peru (Corporate, Other taxes) · as of 2026-07-13 |
| Difference | +6 pp | Iceland higher |
Between the two, Iceland's VAT rate (24%) tops Peru's (18%) by 6pp. 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 |
| Peru | 5% | Source: PWC Worldwide Tax Summaries — Peru (Individual, Income determination) · as of 2026-07-13 |
| Difference | +17 pp | Iceland higher |
Between the two, Iceland's capital gains tax rate (22%) tops Peru's (5%) by 17pp. The 175-country average is 10.3%: Iceland sits above it, Peru sits below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 0% | Source: PWC Worldwide Tax Summaries — Iceland (Individual, Other taxes) · as of 2026-06-22 |
| Peru | 0% | Source: EY Worldwide Personal Tax and Immigration Guide 2025-26 — Peru · as of 2025-10-01 |
| Difference | 0 pp | displayed rates match |
There's no gap here — Iceland and Peru both post a wealth tax rate of 0%. The 193-country average is 0.1%: both sit below it. Iceland's figure is dated 2026-06-22 and Peru's 2025-10-01, so the two rates come from different data vintages.
Not covered for both countries yet: Crypto Tax.