Personal income tax as a share of GDP reached 13.3 % in 2011 in Iceland, according to the National Statistical Office. This is 3.69 % more than in the previous year.
Historically, personal income tax as a share of GDP in Iceland reached an all time high of 14.2 % in 2005 and an all time low of 8.31 % in 1991. When compared to Iceland's main peers, personal income tax as a share of GDP in Denmark amounted to 24.5 %, 9.97 % in Norway, 12.3 % in Sweden and 10.1 % in United Kingdom in 2011.
Iceland has been ranked 2nd within the group of 27 countries we follow in terms of personal income tax as a share of GDP, 4 places above the position seen 10 years ago.
Personal income tax represented around 8.