IS · EuropeES · 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 200-country average is 28%: both sit above it.
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 | ES | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 48.6% | ES +2.3 pp |
| Corporate Tax | 20% | 25% | ES +5 pp |
| VAT | 24% | 21% | IS +3 pp |
| Capital Gains Tax | 22% | 30% | ES +8 pplargest gap |
| Crypto Tax | 22% | 30% | ES +8 pp |
| Wealth Tax | 0% | 3.5% | ES +3.5 pp |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 46.3% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Spain | 48.6% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −2.3 pp | Spain higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Spain | 25% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −5 pp | Spain higher |
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
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Spain | 21% | Source: PWC Worldwide Tax Summaries — Spain (Corporate, Other taxes) · as of 2025-12-31 |
| Difference | +3 pp | Iceland higher |
Iceland's VAT rate is 3pp higher than Spain's (24% vs 21%). The 181-country average is 15%: 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.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 22% | Source: Skatturinn (Iceland Revenue and Customs) — Key rates and amounts 2026 · as of 2026-01-01 |
| Spain | 30% | Source: PwC Worldwide Tax Summaries — Spain, Individual - Income determination · as of 2025-12-31 |
| Difference | −8 pp | Spain higher |
Spain's capital gains tax rate is 8pp higher than Iceland's (30% vs 22%). The 175-country average is 10.3%: both sit above it. Iceland's figure is dated 2026-01-01 and Spain's 2025-12-31, so the two rates come from different data vintages.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 22% | Source: Skatturinn (Icelandic Revenue and Customs) — Rafmynt (Cryptocurrency) · as of 2026-07-19 |
| Spain | 30% | Source: Agencia Tributaria — Manual Práctico Renta 2025, Compra y venta de monedas virtuales: tributación en el IRPF del inversor · as of 2025-01-01 |
| Difference | −8 pp | Spain higher |
Spain's crypto tax rate is 8pp higher than Iceland's (30% vs 22%). The 88-country average is 13%: both sit above it. Iceland's figure is dated 2026-07-19 and Spain'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 |
| Spain | 3.5% | Source: PWC Worldwide Tax Summaries — Spain (Individual, Other taxes) · as of 2025-12-31 |
| Difference | −3.5 pp | Spain 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.