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Iceland vs Russia: tax rates compared
Iceland has an income tax rate of 46.3%, 24.3pp above Russia's 22%. The 200-country average is 28%: Iceland sits above it, Russia sits below it. Iceland's figure is dated 2025-01-01 and Russia's 2026-07-04, 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 | RU | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 22% | IS +24.3 pplargest gap |
| Corporate Tax | 20% | 25% | RU +5 pp |
| VAT | 24% | 22% | IS +2 pp |
| Capital Gains Tax | 22% | 15% | IS +7 pp |
| Crypto Tax | 22% | 15% | IS +7 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 |
| Russia | 22% | Source: KonsultantPlus — Tax Code of the Russian Federation (Part Two), Article 224, Tax Rates · as of 2026-07-04 |
| Difference | +24.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Russia | 25% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −5 pp | Russia higher |
Russia has a corporate tax rate of 25%, 5pp above Iceland's 20%. The 201-country average is 22.6%: Iceland sits below it, Russia sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Russia | 22% | Source: Federal Tax Service of Russia (FNS) — VAT rate transition guidance · as of 2026-01-01 |
| Difference | +2 pp | Iceland higher |
Iceland has a VAT rate of 24%, 2pp above Russia's 22%. 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 |
| Russia | 15% | Source: KonsultantPlus — Tax Code of the Russian Federation (Part Two), Article 224, Tax Rates · as of 2026-07-04 |
| Difference | +7 pp | Iceland higher |
Iceland has a capital gains tax rate of 22%, 7pp above Russia's 15%. 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 |
| Russia | 15% | Source: Налоговый кодекс РФ, часть вторая — Глава 23 (Налог на доходы физических лиц), Статьи 210 и 224 · as of 2026-01-01 |
| Difference | +7 pp | Iceland higher |
Iceland has a crypto tax rate of 22%, 7pp above Russia's 15%. 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 |
| Russia | 0% | Source: Tax Code of the Russian Federation, Part Two (official consolidated text via KonsultantPlus legal reference database) · as of 2026-07-18 |
| Difference | 0 pp | displayed rates match |
Iceland and Russia share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.