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

Taxes on income, profits and capital gains (% of total taxes) in Iceland was 43.52 as of 2019. Its highest value over the past 47 years was 43.52 in 2019, while its lowest value was 9.28 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 19.81
1973 20.59
1974 14.11
1975 10.51
1976 10.80
1977 9.35
1978 11.69
1979 14.69
1980 12.74
1981 12.31
1982 13.10
1983 12.95
1984 11.44
1985 9.28
1986 12.42
1987 10.56
1988 14.36
1989 20.14
1990 23.63
1991 25.35
1992 26.09
1993 26.04
1994 27.77
1995 28.86
1996 30.26
1997 27.74
1998 28.64
1999 30.83
2000 32.36
2001 35.13
2002 34.47
2003 35.37
2004 34.76
2005 36.56
2006 38.86
2007 39.82
2008 43.46
2009 40.80
2010 39.08
2011 38.60
2012 37.33
2013 39.48
2014 39.97
2015 40.15
2016 25.49
2017 43.44
2018 42.99
2019 43.52

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.

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance