Tax rate on low wage earners - tax wedge on labour costs in Iceland
Iceland: Tax rate on low wage earners - tax wedge on labour costs was 27.7 Rate in 2023. ▲ Rising
Latest (2023)
27.7 Rate
Change on year
down 1.4%
World rank
36th
of 44 countries
All-time high
30.3 Rate
in 2015
All-time low
23.8 Rate
in 2000
Years of data
24
2000–2023
Tax rate on low wage earners - tax wedge on labour costs in Iceland, 2000–2023
Source: Eurostat. Measured in Rate.
Analysis
In 2023, tax rate on low wage earners - tax wedge on labour costs in Iceland stood at 27.7 Rate.
Compared with earlier readings it is down 1.4% on the previous year and down 7.0% over ten years.
Over the whole period, tax rate on low wage earners - tax wedge on labour costs in Iceland peaked at 30.3 Rate in 2015 and was at its lowest, 23.8 Rate, in 2000.
Iceland ranks 36th of 44 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 24 years of available data.
Tax rate on low wage earners - tax wedge on labour costs in Iceland, year by year
| Year | Rate | Change |
|---|---|---|
| 2000 | 23.8 Rate | — |
| 2001 | 24.7 Rate | +3.8% |
| 2002 | 26.3 Rate | +6.5% |
| 2003 | 27.1 Rate | +3.0% |
| 2004 | 27.7 Rate | +2.2% |
| 2005 | 28.3 Rate | +2.2% |
| 2006 | 28.3 Rate | +0.0% |
| 2007 | 27.1 Rate | -4.2% |
| 2008 | 27.6 Rate | +1.8% |
| 2009 | 26.1 Rate | -5.4% |
| 2010 | 28.4 Rate | +8.8% |
| 2011 | 29.5 Rate | +3.9% |
| 2012 | 29.3 Rate | -0.7% |
| 2013 | 29.8 Rate | +1.7% |
| 2014 | 29.7 Rate | -0.3% |
| 2015 | 30.3 Rate | +2.0% |
| 2016 | 30.3 Rate | +0.0% |
| 2017 | 29.6 Rate | -2.3% |
| 2018 | 29.6 Rate | +0.0% |
| 2019 | 29.4 Rate | -0.7% |
| 2020 | 29 Rate | -1.4% |
| 2021 | 27.9 Rate | -3.8% |
| 2022 | 28.1 Rate | +0.7% |
| 2023 | 27.7 Rate | -1.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 26.7 Rate | 23.8 Rate | 28.3 Rate | 10 |
| 2010s | 29.59 Rate | 28.4 Rate | 30.3 Rate | 10 |
| 2020s | 28.18 Rate | 27.7 Rate | 29 Rate | 4 |
Countries ranked near Iceland
- 33 Netherlands 30.7 Rate compare
- 33 Netherlands 30.7 Rate compare
- 35 Greece 30.5 Rate compare
- 37 United States of America 27.5 Rate compare
- 37 United States 27.5 Rate compare
- 39 Malta 26.6 Rate compare
More work & labour data for Iceland
- Population - Est. & Proj. — Total Population - Both sexes, annual -0.4964 % change on previous year (2100)
- Population - Est. & Proj. — Total Population - Male, annual growth -0.4501 % change on previous year (2100)
- Population - Est. & Proj. — Total Population - Female, annual growth -0.5492 % change on previous year (2100)
- Population - Est. & Proj. — Rural population, annual growth rate -1.37 % change on previous year (2050)
- Population - Est. & Proj. — Urban population, annual growth rate 0.2312 % change on previous year (2050)
- Population - Est. & Proj. — Urban population 373.77 1000 No (2050)
- Population - Est. & Proj. — Rural population 16.3 1000 No (2050)
- Population - Est. & Proj. — Total Population - Female 169.5 1000 No (2100)
- Population - Est. & Proj. — Total Population - Male 193.08 1000 No (2100)
- Population - Est. & Proj. — Total Population - Both sexes 362.58 1000 No (2100)
Frequently asked questions
- What is tax rate on low wage earners - tax wedge on labour costs in Iceland?
- Tax rate on low wage earners - tax wedge on labour costs in Iceland was 27.7 Rate in 2023, according to Eurostat.
- What is the highest tax rate on low wage earners - tax wedge on labour costs recorded in Iceland?
- The highest recorded value was 30.3 Rate in 2015.
- What is the lowest tax rate on low wage earners - tax wedge on labour costs recorded in Iceland?
- The lowest recorded value was 23.8 Rate in 2000.
- How does Iceland rank for tax rate on low wage earners - tax wedge on labour costs?
- Iceland ranks 36th out of 44 countries with data for 2023.
- Is tax rate on low wage earners - tax wedge on labour costs rising or falling in Iceland?
- Over the last ten years it is down 7.0%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Eurostat, published as part of Tax rate on low wage earners - tax wedge on labour costs. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 24 observations, free to reuse under CC BY 4.0 (Eurostat).