IS · EuropeZA · Africa
Iceland vs South Africa: tax rates compared
Between the two, Iceland's income tax rate (46.3%) tops South Africa's (45%) by 1.3pp. The 200-country average is 28%: both sit above it. Iceland's figure is dated 2025-01-01 and South Africa's 2026-03-01, 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 | ZA | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 45% | IS +1.3 pp |
| Corporate Tax | 20% | 27% | ZA +7 pp |
| VAT | 24% | 15% | IS +9 pplargest gap |
| Capital Gains Tax | 22% | 18% | IS +4 pp |
| Crypto Tax | 22% | 18% | IS +4 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 |
| South Africa | 45% | Source: PWC Worldwide Tax Summaries — South Africa (Individual, Taxes on personal income) · as of 2026-03-01 |
| Difference | +1.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| South Africa | 27% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −7 pp | South Africa higher |
Between the two, South Africa's corporate tax rate (27%) tops Iceland's (20%) by 7pp. The 201-country average is 22.6%: Iceland sits below it, South Africa sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| South Africa | 15% | Source: PWC Worldwide Tax Summaries — South Africa (Corporate, Other taxes) · as of 2026-05-29 |
| Difference | +9 pp | Iceland higher |
Between the two, Iceland's VAT rate (24%) tops South Africa's (15%) by 9pp. The 181-country average is 15%: Iceland sits above it, South Africa matches the world average.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 22% | Source: Skatturinn (Iceland Revenue and Customs) — Key rates and amounts 2026 · as of 2026-01-01 |
| South Africa | 18% | Source: PWC Worldwide Tax Summaries — South Africa (Individual, Income determination) · as of 2026-05-29 |
| Difference | +4 pp | Iceland higher |
Between the two, Iceland's capital gains tax rate (22%) tops South Africa's (18%) by 4pp. 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 |
| South Africa | 18% | Source: South African Revenue Service — Crypto Assets & Tax · as of 2026-03-20 |
| Difference | +4 pp | Iceland higher |
Between the two, Iceland's crypto tax rate (22%) tops South Africa's (18%) by 4pp. 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 |
| South Africa | 0% | Source: PWC Worldwide Tax Summaries — South Africa (Individual, Other taxes) · as of 2026-05-29 |
| Difference | 0 pp | displayed rates match |
There's no gap here — Iceland and South Africa both post a wealth tax rate of 0%. The 193-country average is 0.1%: both sit below it.