IS · EuropeZW · Africa
Iceland vs Zimbabwe: tax rates compared
Iceland has an income tax rate of 46.3%, 6.3pp above Zimbabwe's 40%. The 200-country average is 28%: both sit above it.
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 | ZW | Difference |
|---|---|---|---|
| Income Tax | 46.3% | 40% | IS +6.3 pp |
| Corporate Tax | 20% | 25.8% | ZW +5.8 pp |
| VAT | 24% | 15.5% | IS +8.5 pp |
| Capital Gains Tax | 22% | 1% | IS +21 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 |
| Zimbabwe | 40% | Source: Zimbabwe Revenue Authority (ZIMRA) — PAYE Foreign Currency (USD) Tax Tables, January-December 2025 · as of 2025-01-01 |
| Difference | +6.3 pp | Iceland higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Zimbabwe | 25.8% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −5.8 pp | Zimbabwe higher |
Zimbabwe has a corporate tax rate of 25.8%, 5.8pp above Iceland's 20%. The 201-country average is 22.6%: Iceland sits below it, Zimbabwe sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Zimbabwe | 15.5% | Source: EY Worldwide VAT, GST and Sales Tax Guide 2026 — Zimbabwe · as of 2026-01-01 |
| Difference | +8.5 pp | Iceland higher |
Iceland has a VAT rate of 24%, 8.5pp above Zimbabwe's 15.5%. 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 |
| Zimbabwe | 1% | Source: EY Worldwide Personal Tax and Immigration Guide 2025-26 — Zimbabwe · as of 2025-01-01 |
| Difference | +21 pp | Iceland higher |
Iceland has a capital gains tax rate of 22%, 21pp above Zimbabwe's 1%. The 175-country average is 10.3%: Iceland sits above it, Zimbabwe sits below it. Iceland's figure is dated 2026-01-01 and Zimbabwe'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 |
| Zimbabwe | 0% | Source: ZIMRA (Zimbabwe Revenue Authority) · as of 2026-07-18 |
| Difference | 0 pp | displayed rates match |
Iceland and Zimbabwe 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.