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Iceland vs Slovakia: tax rates compared
Iceland's income tax rate is 21.3pp higher than Slovakia's (46.3% vs 25%). The 37-country average is 43.2%: Iceland sits above it, Slovakia sits below it.
Verified data covers four of the six tracked tax types for both countries; every rate below is cited to its source and dated.
Income Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 46.3% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Slovakia | 25% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | +21.3 pp | Iceland higherlargest gap on this page |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Slovakia | 24% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −4 pp | Slovakia higher |
Slovakia's corporate tax rate is 4pp higher than Iceland's (24% vs 20%). The 201-country average is 22.6%: Iceland sits below it, Slovakia sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Slovakia | 23% | Source: Finančná správa Slovenskej republiky — Sadzby dane (VAT rates) · as of 2025-01-01 |
| Difference | +1 pp | Iceland higher |
Iceland's VAT rate is 1pp higher than Slovakia's (24% vs 23%). The 37-country average is 19.5%: both sit above it. Iceland's figure is dated 2026-06-22 and Slovakia's 2025-01-01, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 0% | Source: PWC Worldwide Tax Summaries — Iceland (Individual, Other taxes) · as of 2026-06-22 |
| Slovakia | 0% | Source: PWC Worldwide Tax Summaries — Slovak Republic (Individual, Other taxes) · as of 2026-01-20 |
| Difference | 0 pp | displayed rates match |
Iceland's wealth tax rate is identical to Slovakia's — both sit at 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Capital Gains Tax, Crypto Tax.