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Iceland vs Trinidad and Tobago: tax rates compared
Iceland has an income tax rate of 46.3%, 16.3pp above Trinidad and Tobago's 30%. The 200-country average is 28%: both sit above it. Iceland's figure is dated 2025-01-01 and Trinidad and Tobago's 2026-06-02, so the two rates come from different data vintages.
Verified data covers five of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | IS | TT | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 30% | IS +16.3 pp |
| Corporate Tax | 20% | 30% | TT +10 pp |
| VAT | 24% | 12.5% | IS +11.5 pp |
| Capital Gains Tax | 22% | 0% | IS +22 pplargest gap |
| 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 |
| Trinidad and Tobago | 30% | Source: PWC Worldwide Tax Summaries — Trinidad and Tobago (Individual, Taxes on personal income) · as of 2026-06-02 |
| Difference | +16.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Trinidad and Tobago | 30% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −10 pp | Trinidad and Tobago higher |
Trinidad and Tobago has a corporate tax rate of 30%, 10pp above Iceland's 20%. The 201-country average is 22.6%: Iceland sits below it, Trinidad and Tobago sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Trinidad and Tobago | 12.5% | Source: PWC Worldwide Tax Summaries — Trinidad and Tobago (Corporate, Other taxes) · as of 2026-06-02 |
| Difference | +11.5 pp | Iceland higher |
Iceland has a VAT rate of 24%, 11.5pp above Trinidad and Tobago's 12.5%. The 181-country average is 15%: Iceland sits above it, Trinidad and Tobago sits below it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 22% | Source: Skatturinn (Iceland Revenue and Customs) — Key rates and amounts 2026 · as of 2026-01-01 |
| Trinidad and Tobago | 0% | Source: PWC Worldwide Tax Summaries — Trinidad and Tobago (Individual, Income determination) · as of 2026-06-02 |
| Difference | +22 pp | Iceland higher |
Iceland has a capital gains tax rate of 22%, 22pp above Trinidad and Tobago's 0%. The 175-country average is 10.3%: Iceland sits above it, Trinidad and Tobago sits below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 0% | Source: PWC Worldwide Tax Summaries — Iceland (Individual, Other taxes) · as of 2026-06-22 |
| Trinidad and Tobago | 0% | Source: PWC Worldwide Tax Summaries — Trinidad and Tobago (Individual, Other taxes) · as of 2026-06-02 |
| Difference | 0 pp | displayed rates match |
Iceland and Trinidad and Tobago share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.