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Iceland Personal Income Tax and Payroll Tax for 2024, Temporary Corporate Tax Increase, and Reinstatement of Accommodation Tax — Orbitax

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Iceland Personal Income Tax and Payroll Tax for 2024, Temporary Corporate Tax Increase, and Reinstatement of Accommodation Tax

|Approved Changes|Iceland
Iceland

Iceland Revenue and Customs has published the key rates and amounts for 2024 (English), which includes the personal income tax changes in 2024. This includes the following monthly brackets and rates:

  • up to ISK 446,136 - 31.48%
  • ISK 446,137 to 1,252,501 - 37.98%
  • over ISK 1,252,501 - 46.28%

The above rates include an average municipal tax rate of 14.93%. Another related change is that the annu…

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