IS · EuropePT · Europe
Iceland vs Portugal: tax rates compared
Portugal has an income tax rate of 53%, 6.7pp above Iceland's 46.3%. 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 | PT | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 53% | PT +6.7 pp |
| Corporate Tax | 20% | 30.5% | PT +10.5 pplargest gap |
| VAT | 24% | 23% | IS +1 pp |
| Capital Gains Tax | 22% | 28% | PT +6 pp |
| Crypto Tax | 22% | 28% | PT +6 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 |
| Portugal | 53% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −6.7 pp | Portugal higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Portugal | 30.5% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −10.5 pp | Portugal higher |
Portugal has a corporate tax rate of 30.5%, 10.5pp above Iceland's 20%. The 201-country average is 22.6%: Iceland sits below it, Portugal sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Portugal | 23% | Source: PWC Worldwide Tax Summaries — Portugal (Corporate, Other taxes) · as of 2026-07-24 |
| Difference | +1 pp | Iceland higher |
Iceland has a VAT rate of 24%, 1pp above Portugal's 23%. 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 |
| Portugal | 28% | Source: PWC Worldwide Tax Summaries — Portugal (Individual, Income determination) · as of 2026-07-24 |
| Difference | −6 pp | Portugal higher |
Portugal has a capital gains tax rate of 28%, 6pp above Iceland's 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 |
| Portugal | 28% | Source: Autoridade Tributária e Aduaneira — Criptoativos: Conceito fiscal e tributação · as of 2026-06-25 |
| Difference | −6 pp | Portugal higher |
Portugal has a crypto tax rate of 28%, 6pp above Iceland's 22%. The 88-country average is 13%: 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 |
| Portugal | 0% | Source: PWC Worldwide Tax Summaries — Portugal (Individual, Other taxes) · as of 2026-01-05 |
| Difference | 0 pp | displayed rates match |
Iceland and Portugal share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.