Are Taxes High In Iceland?
During that period, the highest tax-to-GDP ratio in Iceland was 50.3% in 2016, with the lowest being 31.3% in 2009. Iceland ranked 18th¹ out of 38 OECD countries in terms of the tax-to-GDP ratio in 2021. In 2021, Iceland had a tax-to- GDP ratio of 35.1% compared with the OECD average of 34.1%.
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