Iceland's other taxes (% of revenue) was 3.05% in 2023, the latest year in the World Bank's World Development Indicators. That is down 1.38 percentage points from 4.43% in 2013.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 3.05% | 2023 |
| Five years earlier | 3.29% | 2018 |
| Ten years earlier | 4.43% | 2013 |
| Highest | 34.01% | 2016 |
| Lowest | 0.73% | 2006 |
| Average since 2014 | 7.38% | 2014–2023 |
| First recorded | 5.37% | 1972 |
What the numbers say
In 2023, Iceland's other taxes (% of revenue) fell 0.09 percentage points on 2022 (from 3.14% to 3.05%).
Across the 30 yearly changes before that (1993 to 2022), the average change was −0.02 percentage points and a typical year strayed about 7.7 percentage points from that (the standard deviation). This year's change was 0.0 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 27.43 percentage points in 2016 and the biggest yearly fall was 30.6 percentage points in 2017. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2014 to 2023 there is no clear straight-line trend: a straight line explains 19% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2023, Iceland had the 2nd highest value of the 15 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| Iceland | 3.05% | 2023 |
| World | 0.8% | 2023 |
| Europe & Central Asia | 0.61% | 2024 |
| High income | 1.76% | 2024 |
Closest to Iceland in the 2023 ranking
- Côte d'Ivoire — 1st of 15: 5.13%
- Jordan — 3rd of 15: 1.13%
- Vanuatu — 4th of 15: 1.06%
- Nepal — 5th of 15: 0.95%
What this measures
Other taxes include employer payroll or labor taxes, taxes on property, and taxes not allocable to other categories, such as penalties for late payment or nonpayment of taxes. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.
Limitations: 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).
Regional and income-group figures are computed by the World Bank as a median.
All 52 values
| Year | Other taxes (% of revenue) |
|---|---|
| 2023 | 3.05 |
| 2022 | 3.14 |
| 2021 | 3.39 |
| 2020 | 4.48 |
| 2019 | 3.65 |
| 2018 | 3.29 |
| 2017 | 3.41 |
| 2016 | 34.01 |
| 2015 | 6.57 |
| 2014 | 8.77 |
| 2013 |
Other taxes (% of revenue) in nearby economies
More public sector data for Iceland
- Military expenditure (current USD) — 0 (2025)
- Military expenditure (current LCU) — 0 (2025)
- Military expenditure (% of GDP) — 0% (2025)
- Net incurrence of liabilities, total (current LCU) — 113.95 billion (2023)
- Net incurrence of liabilities, total (% of GDP) — 2.61% (2023)
- Net investment in nonfinancial assets (current LCU) — 100.01 billion (2023)
- Net investment in nonfinancial assets (% of GDP) — 2.29% (2023)
- Net lending (+) / net borrowing (-) (current LCU) — -47.09 billion (2023)
- Net lending (+) / net borrowing (-) (% of GDP) — -1.08% (2023)
- Grants and other revenue (current LCU)
Reading data like this
Questions people ask
- What is Iceland's other taxes (% of revenue)?
- 3.05% in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 1972?
- It is down 2.33 percentage points from 5.37% in 1972. The highest value was 34.01% in 2016 and the lowest 0.73% in 2006.
- How does Iceland rank?
- 2nd highest of 15 economies with data for 2023.
- Is the latest change in other taxes (% of revenue) unusual for Iceland?
- In 2023, Iceland's other taxes (% of revenue) fell 0.09 percentage points on 2022 (from 3.14% to 3.05%). Across the 30 yearly changes before that (1993 to 2022), the average change was −0.02 percentage points and a typical year strayed about 7.7 percentage points from that (the standard deviation). This year's change was 0.0 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator GC.TAX.OTHR.RV.ZS, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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