IS · Europe ↔ SO · Africa
Iceland vs Somalia: tax rates compared
Between the two, Iceland's corporate tax rate (20%) tops Somalia's (15%) by 5pp. The 201-country average is 22.6%: both sit below it.
Verified data covers two of the six tracked tax types for both countries; every rate below is cited to its source and dated.
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Somalia | 15% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | +5 pp | Iceland higherlargest gap on this page |
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 0% | Source: PWC Worldwide Tax Summaries — Iceland (Individual, Other taxes) · as of 2026-06-22 |
| Somalia | 0% | Source: Somalia Revenue Directorate — Direct Tax · as of 2026-07-18 |
| Difference | 0 pp | displayed rates match |
There's no gap here — Iceland and Somalia both post a wealth tax rate of 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Income Tax, VAT, Capital Gains Tax, Crypto Tax.