TaxGlass

IS · Europe ↔ ES · Europe

Iceland vs Spain: tax rates compared

Spain's income tax rate is 2.3pp higher than Iceland's (48.6% vs 46.3%). The 37-country average is 43.2%: both sit above 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

0102030405060World avg 43.2%IS 46.3%ES 48.6%
Income Tax, side by side
CountryRateSource
Iceland46.3%Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01
Spain48.6%Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01
Difference−2.3 ppSpain higher

Corporate Tax

0102030405060World avg 22.6%IS 20%ES 25%
Corporate Tax, side by side
CountryRateSource
Iceland20%Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01
Spain25%Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01
Difference−5 ppSpain higherlargest gap on this page

Spain's corporate tax rate is 5pp higher than Iceland's (25% vs 20%). The 201-country average is 22.6%: Iceland sits below it, Spain sits above it.

VAT

0102030405060World avg 19.5%IS 24%ES 21%
VAT, side by side
CountryRateSource
Iceland24%Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22
Spain21%Source: PWC Worldwide Tax Summaries — Spain (Corporate, Other taxes) · as of 2025-12-31
Difference+3 ppIceland higher

Iceland's VAT rate is 3pp higher than Spain's (24% vs 21%). The 37-country average is 19.5%: both sit above it. Iceland's figure is dated 2026-06-22 and Spain's 2025-12-31, so the two rates come from different data vintages.

Wealth Tax

0102030405060World avg 0.1%IS 0%ES 3.5%
Wealth Tax, side by side
CountryRateSource
Iceland0%Source: PWC Worldwide Tax Summaries — Iceland (Individual, Other taxes) · as of 2026-06-22
Spain3.5%Source: PWC Worldwide Tax Summaries — Spain (Individual, Other taxes) · as of 2025-12-31
Difference−3.5 ppSpain higher

Spain's wealth tax rate is 3.5pp higher than Iceland's (3.5% vs 0%). The 193-country average is 0.1%: Iceland sits below it, Spain sits above it. Iceland's figure is dated 2026-06-22 and Spain's 2025-12-31, so the two rates come from different data vintages.

Not covered for both countries yet: Capital Gains Tax, Crypto Tax.