Tax Revenue (As % of GDP) rose to 37.8% in Iceland in 2016

Tax Revenue (As % of GDP) (%)
Economy | Iceland | May 17, 2019
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Tax revenue as a share of GDP reached 37.8 % in 2016 in Iceland, according to the National Statistical Office. This is 64.7 % more than in the previous year.

Historically, tax revenue as a share of GDP in Iceland reached an all time high of 37.8 % in 2016 and an all time low of 20.1 % in 2009. When compared to Iceland's main peers, tax revenue as a share of GDP in Denmark amounted to 33.5 %, 21.8 % in Norway, 27.8 % in Sweden and 25.5 % in United Kingdom in 2016.

Iceland has been ranked 1st within the group of 114 countries we follow in terms of tax revenue as a share of GDP, 12 places above the position seen 10 years ago.

Tax revenue refers to compulsory transfers to the central government for public purposes.

Tax Revenue (As % of GDP) Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017
Belgium % 24.7% 25.7% 26.2% 26.2% 24.6%
Denmark % 32.8% 33.4% 33.8% 36.5% 33.9%
Finland % 20.1% 20.3% 20.7% 20.8% 20.6%
France % 22.0% 22.7% 23.4% 23.3% 23.4%
Germany % 11.4% 11.6% 11.6% 11.4% 11.3%
Iceland % 20.6% 21.4% 22.0% 24.6% 22.9%
Ireland % 21.9% 22.5% 22.8% 23.1% 18.8%
Netherlands % 20.2% 19.4% 19.7% 20.6% 21.2%
Norway % 27.7% 27.0% 25.1% 23.5% 22.1%
Russia % 13.9% 13.7% 12.9% 13.2% 10.6%
Sweden % 26.5% 26.0% 26.2% 26.3% 27.0%
United Kingdom % 25.9% 25.1% 25.1% 24.8% 25.1%