Tax revenue as a share of GDP reached 24.2 % in 2017 in Iceland, according to the National Statistical Office. This is 36.0 % less 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 33.3 %, 22.5 % in Norway, 27.9 % in Sweden and 25.7 % in United Kingdom in 2017.
Iceland has been ranked 18th within the group of 107 countries we follow in terms of tax revenue as a share of GDP, 6 places behind the position seen 10 years ago.
Tax revenue refers to compulsory transfers to the central government for public purposes.