IS · EuropeSA · Asia
Iceland vs Saudi Arabia: tax rates compared
Iceland's income tax rate is 46.3pp higher than Saudi Arabia's (46.3% vs 0%). The 200-country average is 28%: Iceland sits above it, Saudi Arabia sits below it. Iceland's figure is dated 2025-01-01 and Saudi Arabia's 2026-01-14, 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 | SA | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 0% | IS +46.3 pplargest gap |
| Corporate Tax | 20% | 20% | match |
| VAT | 24% | 15% | IS +9 pp |
| Capital Gains Tax | 22% | 0% | IS +22 pp |
| Crypto Tax | 22% | 0% | IS +22 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 |
| Saudi Arabia | 0% | Source: PWC Worldwide Tax Summaries — Saudi Arabia (Individual, Taxes on personal income) · as of 2026-01-14 |
| Difference | +46.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Saudi Arabia | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | 0 pp | displayed rates match |
Iceland's corporate tax rate is identical to Saudi Arabia's — both sit at 20%. 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 |
| Saudi Arabia | 15% | Source: PWC Worldwide Tax Summaries — Saudi Arabia (Corporate, Other taxes) · as of 2020-07-01 |
| Difference | +9 pp | Iceland higher |
Iceland's VAT rate is 9pp higher than Saudi Arabia's (24% vs 15%). The 181-country average is 15%: Iceland sits above it, Saudi Arabia matches the world average. Iceland's figure is dated 2026-06-22 and Saudi Arabia's 2020-07-01, so the two rates come from different data vintages.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 22% | Source: Skatturinn (Iceland Revenue and Customs) — Key rates and amounts 2026 · as of 2026-01-01 |
| Saudi Arabia | 0% | Source: PWC Worldwide Tax Summaries — Saudi Arabia (Individual, Income determination) · as of 2026-01-14 |
| Difference | +22 pp | Iceland higher |
Iceland's capital gains tax rate is 22pp higher than Saudi Arabia's (22% vs 0%). The 175-country average is 10.3%: Iceland sits above it, Saudi Arabia sits below it.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 22% | Source: Skatturinn (Icelandic Revenue and Customs) — Rafmynt (Cryptocurrency) · as of 2026-07-19 |
| Saudi Arabia | 0% | Source: PWC Worldwide Tax Summaries — Saudi Arabia (Individual, Income determination) · as of 2026-01-14 |
| Difference | +22 pp | Iceland higher |
Iceland's crypto tax rate is 22pp higher than Saudi Arabia's (22% vs 0%). The 88-country average is 13%: Iceland sits above it, Saudi Arabia sits below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 0% | Source: PWC Worldwide Tax Summaries — Iceland (Individual, Other taxes) · as of 2026-06-22 |
| Saudi Arabia | 0% | Source: PWC Worldwide Tax Summaries — Saudi Arabia (Individual, Other taxes) · as of 2026-01-14 |
| Difference | 0 pp | displayed rates match |
Iceland's wealth tax rate is identical to Saudi Arabia's — both sit at 0%. The 193-country average is 0.1%: both sit below it.