IS · EuropeVE · Americas
Iceland vs Venezuela: tax rates compared
Iceland's income tax rate is 12.3pp higher than Venezuela's (46.3% vs 34%). The 200-country average is 28%: both sit above it. Iceland's figure is dated 2025-01-01 and Venezuela's 2026-01-12, 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 | VE | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 34% | IS +12.3 pp |
| Corporate Tax | 20% | 34% | VE +14 pp |
| VAT | 24% | 16% | IS +8 pp |
| Capital Gains Tax | 22% | 1% | IS +21 pplargest gap |
| Wealth Tax | 0% | 0.3% | VE +0.3 pp |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 46.3% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Venezuela | 34% | Source: PWC Worldwide Tax Summaries — Venezuela (Individual, Taxes on personal income) · as of 2026-01-12 |
| Difference | +12.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Venezuela | 34% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −14 pp | Venezuela higher |
Venezuela's corporate tax rate is 14pp higher than Iceland's (34% vs 20%). The 201-country average is 22.6%: Iceland sits below it, Venezuela sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Venezuela | 16% | Source: PWC Worldwide Tax Summaries — Venezuela (Corporate, Other taxes) · as of 2026-01-12 |
| Difference | +8 pp | Iceland higher |
Iceland's VAT rate is 8pp higher than Venezuela's (24% vs 16%). The 181-country average is 15%: both sit above 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 |
| Venezuela | 1% | Source: PWC Worldwide Tax Summaries — Venezuela (Individual, Income determination) · as of 2026-01-12 |
| Difference | +21 pp | Iceland higher |
Iceland's capital gains tax rate is 21pp higher than Venezuela's (22% vs 1%). The 175-country average is 10.3%: Iceland sits above it, Venezuela sits below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 0% | Source: PWC Worldwide Tax Summaries — Iceland (Individual, Other taxes) · as of 2026-06-22 |
| Venezuela | 0.3% | Source: PWC Worldwide Tax Summaries — Venezuela (Individual, Other taxes) · as of 2026-01-12 |
| Difference | −0.3 pp | Venezuela higher |
Venezuela's wealth tax rate is 0.3pp higher than Iceland's (0.3% vs 0%). The 193-country average is 0.1%: Iceland sits below it, Venezuela sits above it.
Not covered for both countries yet: Crypto Tax.