Iceland - Taxes on income, profits and capital gains (% of revenue)

Taxes on income, profits and capital gains (% of revenue) in Iceland was 31.14 as of 2019. Its highest value over the past 47 years was 31.14 in 2019, while its lowest value was 7.40 in 1985.

Definition: Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation.

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

See also:

Year Value
1972 17.31
1973 17.16
1974 12.23
1975 8.98
1976 9.38
1977 7.98
1978 9.81
1979 12.32
1980 10.72
1981 10.58
1982 11.06
1983 10.46
1984 9.20
1985 7.40
1986 9.92
1987 8.47
1988 11.56
1989 16.19
1990 19.53
1991 20.26
1992 20.22
1993 20.18
1994 21.34
1995 22.17
1996 23.36
1997 21.27
1998 22.33
1999 24.20
2000 25.30
2001 26.53
2002 26.24
2003 27.33
2004 27.16
2005 25.73
2006 26.61
2007 27.01
2008 24.57
2009 23.50
2010 24.65
2011 23.79
2012 23.34
2013 25.23
2014 27.64
2015 27.97
2016 19.90
2017 30.58
2018 29.74
2019 31.14

Limitations and Exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries.

Statistical Concept and Methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.

Aggregation method: Median

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance