IS · EuropeSN · Africa
Iceland vs Senegal: tax rates compared
Iceland's income tax rate is 3.3pp higher than Senegal's (46.3% vs 43%). The 200-country average is 28%: both sit above it. Iceland's figure is dated 2025-01-01 and Senegal's 2026-03-31, 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 | SN | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 43% | IS +3.3 pp |
| Corporate Tax | 20% | 30% | SN +10 pp |
| VAT | 24% | 18% | IS +6 pp |
| Capital Gains Tax | 22% | 43% | SN +21 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 |
| Senegal | 43% | Source: PWC Worldwide Tax Summaries — Senegal (Individual, Taxes on personal income) · as of 2026-03-31 |
| Difference | +3.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Senegal | 30% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −10 pp | Senegal higher |
Senegal's corporate tax rate is 10pp higher than Iceland's (30% vs 20%). The 201-country average is 22.6%: Iceland sits below it, Senegal sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Senegal | 18% | Source: PWC Worldwide Tax Summaries — Senegal (Corporate, Other taxes) · as of 2026-03-31 |
| Difference | +6 pp | Iceland higher |
Iceland's VAT rate is 6pp higher than Senegal's (24% vs 18%). 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 |
| Senegal | 43% | Source: PWC Worldwide Tax Summaries — Senegal (Individual, Taxes on personal income) · as of 2026-03-31 |
| Difference | −21 pp | Senegal higher |
Senegal's capital gains tax rate is 21pp higher than Iceland's (43% vs 22%). The 175-country average is 10.3%: 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 |
| Senegal | 0% | Source: PWC Worldwide Tax Summaries — Senegal (Individual, Other taxes) · as of 2026-03-31 |
| Difference | 0 pp | displayed rates match |
Iceland's wealth tax rate is identical to Senegal's — both sit at 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.