Iceland - Tax revenue

Tax revenue (current LCU)

The value for Tax revenue (current LCU) in Iceland was 663,685,000,000 as of 2019. As the graph below shows, over the past 47 years this indicator reached a maximum value of 944,855,000,000 in 2016 and a minimum value of 169,100,000 in 1972.

Definition: Tax revenue refers to compulsory transfers to the central government for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files.

Year Value
1972 169,100,000
1973 238,000,000
1974 360,000,000
1975 494,800,000
1976 662,100,000
1977 911,300,000
1978 1,440,200,000
1979 2,203,200,000
1980 3,441,100,000
1981 5,690,700,000
1982 9,090,000,000
1983 14,136,700,000
1984 19,014,600,000
1985 24,901,600,000
1986 33,296,400,000
1987 44,183,500,000
1988 58,591,000,000
1989 75,851,000,000
1990 88,628,600,000
1991 93,175,900,000
1992 94,376,600,000
1993 94,615,800,000
1994 99,458,200,000
1995 103,751,000,000
1996 115,794,000,000
1997 118,062,000,000
1998 144,549,000,000
1999 168,020,000,000
2000 178,139,000,000
2001 182,631,000,000
2002 192,973,000,000
2003 207,585,000,000
2004 240,338,000,000
2005 289,165,000,000
2006 329,683,000,000
2007 360,032,000,000
2008 362,399,000,000
2009 324,197,000,000
2010 340,000,000,000
2011 363,277,000,000
2012 396,770,000,000
2013 426,670,000,000
2014 510,990,000,000
2015 524,319,000,000
2016 944,855,000,000
2017 632,042,000,000
2018 653,517,000,000
2019 663,685,000,000

Tax revenue (% of GDP)

Tax revenue (% of GDP) in Iceland was 21.78 as of 2019. Its highest value over the past 47 years was 37.61 in 2016, while its lowest value was 19.93 in 2009.

Definition: Tax revenue refers to compulsory transfers to the central government for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD GDP estimates.

See also:

Year Value
1972 22.82
1973 22.87
1974 23.77
1975 22.88
1976 21.77
1977 20.75
1978 21.15
1979 21.90
1980 21.21
1981 22.55
1982 22.95
1983 20.57
1984 20.94
1985 20.10
1986 20.30
1987 20.69
1988 22.31
1989 23.44
1990 23.51
1991 22.86
1992 23.16
1993 22.51
1994 22.25
1995 22.51
1996 23.45
1997 22.00
1998 23.96
1999 25.86
2000 25.11
2001 22.76
2002 22.59
2003 23.68
2004 24.77
2005 27.24
2006 26.90
2007 25.96
2008 22.80
2009 19.93
2010 20.23
2011 20.58
2012 21.50
2013 21.66
2014 24.49
2015 22.69
2016 37.61
2017 23.92
2018 22.97
2019 21.78

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance