Taxation in Iceland
Income tax

Taxation in Iceland

Section Title: Income tax
Table Section Text: None

Monthly consideration	Annual consideration	Rate	Personal monthly tax credit	Personal annual tax credit

2015	First 336,035 ISK	Under 4,032,420 ISK	37.13%	51,920 ISK	623,040 ISK

Between 336,036 and 836,990 ISK	Between 4,032,432 and 10,043,880 ISK	38.35%

Above 836,990 ISK	Over 10,043,880 ISK	46.25%

2017	First 834,707 ISK	Under 10,016,484 ISK	36.94%	52,90 ISK	634,800 ISK

Above 834,707 ISK	Over 10,016,484 ISK	46.24%

2018	First 893,713 ISK	Under 10,724,556 ISK	36.94%	53,895 ISK	646,740 ISK

Above 893,714 ISK	Over 10,724,556 ISK	46.24%

Sentence(s)

Personal tax credit was 53,895 ISK per month in 2018.

final_sentence: Personal tax credit was 53,895 ISK per month in 2018.